Other questions in this quiz

2. When is a business making loss?

  • When revenues are less than costs.
  • When revenues are less than costs.
  • When revenues equal costs.

3. When is a business making a profit?

  • When revenues are higher than costs.
  • When revenues equal costs.
  • When revenues are less than costs.

4. What does 'total cost' mean?

  • The total amount of profit earned by a firm.
  • The total expenses of a firm.
  • The total income earned by a firm.

5. If a company reduces a product's price, what does this mean for their revenue?

  • There will be an increase in revenue
  • There could be an increase or decrease in revenue.
  • There will be a decrease in revenue.

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