Bus101 - Study guides, Class notes & Summaries

What is the difference between revenue and profit? - Answer- Revenue is total amount of money the business brings in during set period of time, while profit is (revenue - expenses) and the amount of money a business really made, not just brought in. What is risk? How does it relate to profit? - Answer- Risk is the dedicated time and money put towards a business where the profits are not secured, or the time and money an entrepreneur puts towards a business that may not be profitable. This rel...

EGCC BUS101 Into to Business - Final Exam | 2024/25 | Graded at 100%

Saylor Academy BUS101 Questions and Answers Graded A Social Benefit The total benefit to society from producing or consuming a good or service. Social benefit includes all the private benefits plus any external benefits of production / consumption. If a good has significant external benefits, then the social benefit will be greater than the private benefit. Contract Theory The belief that business is a community of participants organized around a common purpose. These participants have...

Social Benefit - ️️The total benefit to society from producing or consuming a good or service. Social benefit includes all the private benefits plus any external benefits of production / consumption. If a good has significant external benefits, then the social benefit will be greater than the private benefit. Contract Theory - ️️The belief that business is a community of participants organized around a common purpose. These participants have legitimate interests in how the business is...

BUS101 - Chapter 5 Test Bank fully solved & updated

Saylor Academy BUS101 Exam Questios with 100% correct Answers Social Benefit - answerThe total benefit to society from producing or consuming a good or service. Social benefit includes all the private benefits plus any external benefits of production / consumption. If a good has significant external benefits, then the social benefit will be greater than the private benefit. Contract Theory - answerThe belief that business is a community of participants organized around a common purpose. T...

Saylor Academy BUS101 Exam Questios with 100% correct Answers Social Benefit - answerThe total benefit to society from producing or consuming a good or service. Social benefit includes all the private benefits plus any external benefits of production / consumption. If a good has significant external benefits, then the social benefit will be greater than the private benefit. Contract Theory - answerThe belief that business is a community of participants organized around a common purpose. T...

EGCC BUS101 Into to Business - Final Exam 2024(Graded at 100%)

Saylor Academy BUS101 Exam

Saylor Academy BUS101 Exam Questios with 100% correct Answers Social Benefit - answerThe total benefit to society from producing or consuming a good or service. Social benefit includes all the private benefits plus any external benefits of production / consumption. If a good has significant external benefits, then the social benefit will be greater than the private benefit. Contract Theory - answerThe belief that business is a community of participants organized around a common purpose. T...