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Questions and Answers
What is the formula to calculate profit?
What is the formula to calculate profit?
- Revenue * Expenses
- Revenue - Expenses (correct)
- Revenue + Expenses
- Revenue / Expenses
Which term best describes goods or services that are no longer in use or produced?
Which term best describes goods or services that are no longer in use or produced?
- Innovative
- Advanced
- Outdated (correct)
- Sustainable
What type of resource includes materials that come from the earth, water, and air?
What type of resource includes materials that come from the earth, water, and air?
- Capital resources
- Natural resources (correct)
- Entrepreneur resources
- Human resources
In the context of economics, what defines a 'want'?
In the context of economics, what defines a 'want'?
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Who are the individuals responsible for creating goods and services?
Who are the individuals responsible for creating goods and services?
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What is the key advantage of sole proprietorships?
What is the key advantage of sole proprietorships?
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In a general partnership, partners have:
In a general partnership, partners have:
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What type of corporation is Apple?
What type of corporation is Apple?
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Who owns co-operatives?
Who owns co-operatives?
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What does 'unlimited liability' mean in the context of sole proprietorships?
What does 'unlimited liability' mean in the context of sole proprietorships?
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