ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Soybeans
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Profit
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Capital
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Labor
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Detailed explanation-1: -Net income: Net profit can be defined as the amount of money you earn after deducting allowable business expenses. It is calculated by subtracting total expenses from total revenue.
Detailed explanation-2: -Profit simply means a positive gain generated from business operations or investment after subtracting all expenses or costs. In economic terms profit is defined as a reward received by an entrepreneur by combining all the factors of production to serve the need of individuals in the economy faced with uncertainties.
Detailed explanation-3: -Revenue refers to the total earnings a company generates through its core operations like sales of products or services, rents on a property, recurring payments, interest on borrowings, etc.
Detailed explanation-4: -3. Net Profit. Net profit (also called net income or net earnings) is the value that remains after all expenses, including interest and taxes, have been deducted from revenue.
Detailed explanation-5: -There are three main measures of profit. These are gross profit, operating profit and net profit.