INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The amount of money that an entrepreneur earns when total costs are subtracted from total sales is called ____ profit salarycontribution margin overhead
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Profit
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Salary
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Contribution margin
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Overhead
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Explanation:
Detailed explanation-1: -Gross profit is the money your business holds after deducting the cost of making and selling your product. Formula: Gross profit = Total revenue-Costs of goods sold.
Detailed explanation-2: -The average salary for an entrepreneur in the United States is $70, 849. Entrepreneur salaries typically range between $42, 000 and $118, 000 a year.
Detailed explanation-3: -An Entrepreneur is an innovator who brings in new ideas to create a successful business venture.
Detailed explanation-4: -An entrepreneur is an individual who takes the risk to start their own business based on an idea they have or a product they have created while assuming most of the risks and reaping most of the rewards of the business.
There is 1 question to complete.