What is revenue? What is a stakeholder? Define outsourcing. Which of the following is not an example of a stakeholder? What are the five factors of production?
Understand the Problem
The question is asking for definitions of key business concepts, including revenue, stakeholders, outsourcing, examples of stakeholders, and the factors of production. The user likely seeks to understand these concepts for educational purposes, possibly for a business course.
Answer
1. C, 2. B, 3. A, 4. D, 5. D
- C - The total amount of money a business takes in during a given period by selling goods and services. 2. B - All the people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address. 3. A - Contracting with other companies to do some or all of the functions of a firm, like its production or accounting tasks. 4. D - Gardener. 5. D - Land, labor, capital, entrepreneurship, knowledge.
Answer for screen readers
- C - The total amount of money a business takes in during a given period by selling goods and services. 2. B - All the people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address. 3. A - Contracting with other companies to do some or all of the functions of a firm, like its production or accounting tasks. 4. D - Gardener. 5. D - Land, labor, capital, entrepreneurship, knowledge.
More Information
These definitions and examples reflect standard economic and business principles.
Tips
A common mistake is confusing revenue with profit. Revenue is the total income from sales, while profit is what's left after expenses.
Sources
- Understanding Business Concepts and Economic Factors - coursesidekick.com
- What Are Stakeholders? Definition, Types, and Examples - investopedia.com
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