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Questions and Answers
Which concept describes the relationship between one firm's output and another firm's input?
Which concept describes the relationship between one firm's output and another firm's input?
- d. mark-up
- a. input (correct)
- c. profit
- b. output
- e. loss
What is the term used to describe the financial gain made by a firm?
What is the term used to describe the financial gain made by a firm?
- a. input
- e. loss
- c. profit (correct)
- d. mark-up
- b. output
Which term refers to the amount added to the cost price of a product to determine its selling price?
Which term refers to the amount added to the cost price of a product to determine its selling price?
- a. input
- d. mark-up (correct)
- c. profit
- b. output
- e. loss
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