The amount of money a business pays for the products it sells or for the raw materials from which it produces goods to sell: the amount of money a business pays for the product (or for any part of the products) it sells

Individuals or businesses to whom a business owes money or from whom it wants to borrow money

The quantity of a good or service that buyers are ready to buy at a given price at a particular time

The system in which people make and spend their incomes

Accomplishing a task with a minimum expenditure of time and effort

Money left after the cost-of-goods expense is subtracted from total income

The money received by resource owners and by producers for supplying goods and services to consumers

Money left after the cost-of-goods expense and the operating expense are each subtracted from the total income

All of the expenses involved in running a business

A marketing function that involves determining and adjusting prices to maximize return and meet customers' perceptions of value

Private enterprise system

An economic system in which individuals and groups, rather than the government, own or control the means of production---the human and natural resources and capital goods and services

Monetary reward a business owner receives for taking the risk involved in investing a business

The desire to make a profit, which moves people to invest in a business

Items that are used to accomplish another activity, such as producing/providing goods and services

The possibility of loss or failure

Help

Options

focusNode

Didn't know it?
click below

Knew it?
click below

Don't Know

Remaining cards (0)

Know

retry

shuffle

restart

0:00

Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

Normal Size Small Size show me how

BE 205

Factor affecting profit


Cost of goods	The amount of money a business pays for the products it sells or for the raw materials from which it produces goods to sell: the amount of money a business pays for the product (or for any part of the products) it sells
Creditors	Individuals or businesses to whom a business owes money or from whom it wants to borrow money
Demand	The quantity of a good or service that buyers are ready to buy at a given price at a particular time
Economy	The system in which people make and spend their incomes
Efficiency	Accomplishing a task with a minimum expenditure of time and effort
Expenses	The money that business spends
Gross profit	Money left after the cost-of-goods expense is subtracted from total income
Income	The money received by resource owners and by producers for supplying goods and services to consumers
Net profit	Money left after the cost-of-goods expense and the operating expense are each subtracted from the total income
Operating expense	All of the expenses involved in running a business
Pricing	A marketing function that involves determining and adjusting prices to maximize return and meet customers' perceptions of value
Private enterprise system	An economic system in which individuals and groups, rather than the government, own or control the means of production---the human and natural resources and capital goods and services
Profit	Monetary reward a business owner receives for taking the risk involved in investing a business
Profit motive	The desire to make a profit, which moves people to invest in a business
Resources	Items that are used to accomplish another activity, such as producing/providing goods and services
Risk	The possibility of loss or failure
Suppliers	Vendors; businesses

Created by: user-1969137

"Know" box contains:
Time elapsed:
Retries: