EC002 Objective A

In business terms, income is the money

Business owners are usually interested in net profit because they want to know what they can

If no profit is generated in the long run, a business must

In business terms, what is profit?

Gross profit shows business owners the difference between what they’ve

The money spent to run a business is called

If expenses are greater than income, there’s no

Which of the following is a general benefit profit provides:

The amount of money paid for raw materials and products sold is called

Profitable businesses often help improve their local communities by

Besides motivation, what does profit provide business owners in particular?

Each purchase strengthens the economy by encouraging