Which explains how revenue is determined?
Which explains how revenue is determined ? The total amount of money brought in by sales is calculated . Two or more producers are trying to sell the same good or service to the same consumers.
Which is the main force behind the decisions made by producers in a free market society?
In a market economy, the producer gets to decide what to produce, how much to produce, what to charge customers for those goods, and what to pay employees. These decisions in a free – market economy are influenced by the pressures of competition, supply, and demand.
Which best describes a situation where an oligopoly exists?
Which best describes a situation where an oligopoly exists ? A small number of producers command nearly the entire market for a certain good or service. Many producers are selling slightly differentiated products that are close substitutes of each other.
Which is a possible market structure for an economic system?
The correct sequence of the market structure from most to least competitive is perfect competition, imperfect competition, oligopoly , and pure monopoly .
Is revenue the same as sales?
Key Takeaways. Revenue is the income a company generates before any expenses are subtracted from the calculation. Revenue is referred to as the “top line” number since it sits at the top of the income statement. Sales are the proceeds a company generates from selling goods or services to its customers.
How do you calculate service revenue?
A simple way to solve for revenue is by multiplying the number of sales and the sales price or average service price ( Revenue = Sales x Average Price of Service or Sales Price).
Which is the most direct benefit to businesses from the Internet?
Which is the most direct benefit to businesses from the Internet ? Online businesses don’t need to have as many employees.
Which of the following is the main goal of a socialist system?
A primary goal of socialism is social equality and a distribution of wealth based on one’s contribution to society , and an economic arrangement that would serve the interests of society as a whole. Socialism in Europe: Europe has far more socialist democracies than the United States.
Which is the most direct benefit to consumers from the Internet?
Which is the most direct benefit to consumers from the internet ? It is easier to compare prices. Which explains why the internet can help people make better economic decisions? Information is crucial for making good decisions.
What word best describes a situation where a few large companies dominate a media system?
What word best describes a situation where a few large companies dominate a media system ? Oligopoly.
Which accurately explains how profit is calculated?
Which accurately explains how profit is calculated ? Costs are subtracted from revenues. Which identifies the reason why producers try to minimize costs and maximize revenue? The profit motive.
Which best describes a profit motive?
The profit motive is the intent to achieve monetary gain in a project, transaction, or material endeavor. Profit motive can also be construed as the underlying reason why a taxpayer or company participates in business activities of any kind.
Is online auctioning pure competition?
The correct answers are: pure competition : online auctioning ; near monopoly: computer operating systems; monopolistic competition : fast food restaurants; oligopoly: car makers.
Which of the following are market structures that can exist in free market system?
Economists identify four types of market structures: (1) perfect competition , (2) pure monopoly , (3) monopolistic competition , and (4) oligopoly . (Figure) summarizes the characteristics of each of these market structures.
Which best explains why producers conduct market research?
Which statement best explains why producers conduct market research ? – Understanding market force enables producers to make free choices. – Anticipating trends makes it easier to distribute goods and services. – Knowing what consumers want helps producers make more money.