ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
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The difference between the revenues taken in by a business and the costs of operating the business.
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Breakeven Point
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Equilibrium Price
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Profit
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Cost of Goods Sold
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Explanation:
Detailed explanation-1: -Net operating income is revenue minus all operating expenses. Conversely, net income is revenue minus all expenses, including operating expenses and nonoperating expenses, such as taxes.
Detailed explanation-2: -Though revenue is the income produced before costs, profit is the income earned that is left in the wake of deducting all costs. Costs or expenses can incorporate anything from taxes to inventory costs. It’s additionally called the net income or bottom line. At last, profit is a piece of a business’s income.
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