GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Maximise profits
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To promote awareness of “good causes”
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Either A or B
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None of the above
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Detailed explanation-1: -Companies can maximize profits by increasing the price or reducing the production cost of the goods. Firms adjust influential factors like selling price, production cost, and output levels to realize their profit goals.
Detailed explanation-2: -Profit maximisation is an approach that can enable efficient and sustained business growth. If you’re ready to expand your business, employing a profit maximisation strategy will ensure that increased effort leads to increased net revenue.
Detailed explanation-3: -At the end of the financial year, a board meeting is held, wherein, it is decided as to how much dividend should each share receive. Hence, sharing of profit in companies is in the form of dividends decided by the Board of Directors and approved by the shareholders.