Podcast
Play an AI-generated podcast conversation about this lesson
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
