Profits equal:
A) total revenue minus variable costs.
B) revenue minus fixed costs.
C) total revenue minus total costs.
D) total revenue.
C
Economics
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Is cutting down a tree in two hours with an ax more efficient than cutting it down in ten minutes with a gasoline-powered chain saw?
A) No, because time is valuable. B) Yes, because hand tools conserve nonrenewable energy resources. C) It could be, if the person cutting down the tree places a high enough value on the exercise. D) There is no way to answer the question.
Economics
Owners of small firms in countries with weak banking systems have to rely on funds from all of the following EXCEPT:
A) their own savings B) local lenders who charge high interest rates C) global investors D) the savings of relatives and friends
Economics