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Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capital equipment). Its calculation is: revenue - cost = profit.
Q. What do you meant by Payroll Tax? Payroll Tax:A tax which is levied on current employment or payrolls (collected either as a fixed amount per employee or as a percentage of
# 1 Question: Consider a competitive market for Berries. The market demand for the berries is Qd=50-P (Qd is the quantity demanded (cartons) and P is the price in $. The market sup
determination of interests rates in classical system
Can this be done now?
What is the difference between 'concept' and 'assumption'? These two terms are very dissimilar. The term 'concept' refers to an idea or abstract principle. For instances, forc
the meaning of supply
What are the basic questions to be answered by economic institution? Four fundamental questions should be answered by any economic institution as: a. What goods and services
Explain the roles of economics theory. Roles of Economic Theory An economic theory has three probable roles: a. This can be used to describe economic behavior and economi
Marginal utility - It is the measure of the additional satisfaction obtained from consuming one additional unit of good. * Marginal Utility: An instance - The marginal u
What are the advantages of trade surplus
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