ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A company’s total revenue is the total amount of money the company receives from selling its goods or services. Firms need to be aware of the elasticity of demand for the good or service they are providing. If a good has an elastic demand, raising prices may actually decrease the firm’s total revenue.

Detailed explanation-2: -Revenue is the total amount of income generated by the sale of goods or services related to the company’s primary operations. Revenue, also known as gross sales, is often referred to as the “top line” because it sits at the top of the income statement. Income, or net income, is a company’s total earnings or profit.

Detailed explanation-3: -Revenue is the amount of money a company receives in exchange for its goods and services or conversely, what a customer pays a company for its goods or services. The revenue received by a company is usually listed on the first line of the income statement as revenue, sales, net sales, or net revenue.

Detailed explanation-4: -Total revenue, also known as gross revenue, is your total revenue from recurring (MRR) and non-recurring revenue streams. In other words, it’s the total amount of income your company brings in from selling your products/services.

Detailed explanation-5: -Sales revenue is the income received by a company from its sales of goods or the provision of services. Sales revenue can be shown on the income statement by either the gross revenue amount or net revenue.