ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Revenue meaning is the money that is produced by carrying out normal business operations and is calculated by multiplying the average sales price by the number of items sold. It is the total sum of money from which other costs and expenses are subtracted to calculate net income.

Detailed explanation-2: -Revenue is the money generated from normal business operations, calculated as the average sales price times the number of units sold. It is the top line (or gross income) figure from which costs are subtracted to determine net income. Revenue is also known as sales on the income statement.

Detailed explanation-3: -Someone who invests time and money to start a business.

Detailed explanation-4: -Entrepreneurs are those people who start new businesses with the aim of making a profit. Entrepreneurs are those persons (business owners) who seek to generate value through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.