Profits Katherine Carpenter Liberty University Econ 213 Gwartney states that profits are; “An excess of sales revenue relative to the opportunity cost of production. The cost component includes the opportunity cost of all resources‚ including those owned by the firm. Therefore‚ profit accrues only when the value of the good produced is greater than the value of the resources used for its production.” An example of a profit would be bakery offers a cheesecake for $20 and the total cost to make
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001-6514318052 E. Telephone No. $5000 ACADEMIC QUALIFICATIONS (Please attach certified copies of the original certificates/documents and transcripts) Name of School Location/State/Country IMAM SHAFI MOGDISHU ‚SOMALIA F. No 1. 2. 3. 4. Date of Entry (month & year) Date of Leaving (month & year) 2010 2011 Certificate Obtained Score/Grade/ CGPA/Division 90% LANGUAGE PROFICIENCY (Please attach certified copies of the original documents) Type
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issues to work out. As a “for-profit charity”‚ Google.org has an opportunity to create a charitable organization that is self-reliant and not constantly scrambling to raise funds through donations. The biggest problem with this strategy is that they face the same set of rules and objectives as a regular business would face; mainly‚ taxation and the desire for profitability. Google’s motto “don’t be evil” may suggest that this company really is about charity and not profit‚ but with shareholders involved
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Topic No 1 Helping Material Many scientists believe that we are rapidly depleting our natural resources. Assume that there are only two inputs (labour and natural resources) producing two goods (musical concerts and gasoline) with no improvement in society over time. Show what would happen to the PPF over time as natural resources are exhausts. How would invention and technological improvements modify your answer? On the basis of this example‚ explain why it is said “economic growth is a race between
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Economic Issues Economic Growth Economic Growth involves an increase in the volume of goods and services that an economy produces over a period of time. It is measured by the annual rate of change in real Gross Domestic Product (GDP)‚ i.e. the percentage increase in the value of goods and services produced in an economy over a period of time‚ usually one year‚ adjusted for inflation Aggregate Demand Aggregate Demand (AD) is the total level of expenditure in the economy over a given period
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of the organization’s objectives helps to understand how it is likely to respond to changes in its environment. It is often assumed that business organizations will always try to maximize their profits through a combination of maximizing revenue and minimizing costs. The profit maximization objectives must be qualified by a time dimension. A firm that pursuing a short-term profit-maximizing objective may act very differently to one that seeks to maximize long term profit. This may be reflected
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What drove Facebook’s growth – a prescriptive or emergent strategy? 1. Corporate Strategy 2 1.1 Prescriptive Strategy 2 1.2 Emergent Strategy 2 2. Abstract Evidence 3 2.1 Changing on Facebook’s target customer 3 2.2 Facebook’s Daily Deals service in US 4 2.3 Facebook competing Google 4 2.4 The products and technology development of Facebook 5 3. Analysis 5 3.1 Analysing on the expanding of Facebook’s target customer 5 3.2 Analysing on Facebook’s Daily Deals 6
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fogger and they account for 66% and 34% of total sales in test market respectively. From the first part of table 1‚ the weighted average unit price and contribution for the product are calculated as $3.02 and $1.66‚ which means that the expense $1‚478‚000. It seems that it is not wise to introduce the product into a larger market which covers 19 cities‚ but a forecast of the sales and profit of the 19 cities market is necessary. Table 2 shows the result of forecasting and the total contribution in the
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Assignment 2 (20 points) Assignment 2: Costs and Profit Instructions Save this file in your course folder‚ and name it with Assignment‚ the section number‚ and your first initial and last name. For example‚ Jessie Robinson’s assignment for Section 1 would be named Assignment1JRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day‚ be sure to save your
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A01 Profit and loss account: A profit and loss account calculates the amount of gross and net profit that a business takes on an annual basis; it also outlines the loss which has occurred through the business‚ through necessary overheads. There are many aspects included within a profit and loss account‚ all of which I am going to briefly explain. It is important to have a profit and loss account within a business to enforce correct usage of the money. The company will be able to see where the business
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