ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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selling price-expenses = profit or loss
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selling price + expenses = profit or loss
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All of these options
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None of these options
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Detailed explanation-1: -Economic profit (or loss) can be calculated as revenue minus explicit costs minus opportunity cost.
Detailed explanation-2: -Subtract the cost of the product from the sale price of the item. For example, if you sell an item for $40 and it costs your company $22, your profit per unit equals $18.
Detailed explanation-3: -What Is Unit Cost? A unit cost is a total expenditure incurred by a company to produce, store, and sell one unit of a particular product or service. Unit costs are synonymous with cost of goods sold (COGS).
Detailed explanation-4: -Determine the total cost of all units purchased. Divide the total cost by the number of units purchased to get the cost price. Use the selling price formula to calculate the final price: Selling Price = Cost Price + Profit Margin. 27-Apr-2022