Given the revenues and expenses table for a business, what was the businesss profit or loss?Week ..... Revenues ..... Expenses1 ..... $3000 ..... $25002 ..... $3500 ..... $30003 ..... $3000 ..... $40004 ..... $2500 ..... $3000

ENTREPRENEURS

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Given the revenues and expenses table for a business, what was the business’s profit or loss?Week ____ Revenues ____ Expenses1 ____ $3000 ____ $25002 ____ $3500 ____ $30003 ____ $3000 ____ $40004 ____ $2500 ____ $3000

A	$500 Profit
B	$1000 Profit
C	$500 Loss
D	$1000 Loss

Explanation:

Detailed explanation-1: -You need to determine the opportunity cost. Put simply, opportunity cost is what a business owner misses out on when selecting one option over another. It’s a way to quantify the benefits and risks of each option, leading to more profitable decision-making overall.

Detailed explanation-2: -What does total revenue minus total expenses indicate? “The profit or loss made by the business.”

Detailed explanation-3: -Identifying a target market allows marketers to focus on those most likely to purchase the product. Limiting the population funnels research and budgets to the customers with the highest profit potential.

Detailed explanation-4: -Business websites. Business blogs. Crowdfunding platforms. Incubators and Accelerators. Startup apps. Website creation resources. Mobile app tools. Project management resources. More items •15-Feb-2021

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ECONOMICS (CBSE/UGC NET)

ECONOMICS

ENTREPRENEURS