GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In business terms, what is profit?
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A good investment
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A monetary reward
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A risky venture
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A holiday bonus
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Explanation:
Detailed explanation-1: -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-2: -There are three main measures of profit. These are gross profit, operating profit and net profit.
There is 1 question to complete.