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2 cards from this section. Quick, good the night before a test.
What are profits?
Think about revenues minus expenses.
What formula represents how National Income is calculated using profits?
Remember, profits are just one part of the total calculation.
What are profits?
Consider what businesses keep from their sales.
True or False: Higher profits generally indicate a struggling economy.
Think about business successes vs. economic health.
A company reported revenues of $500,000 and expenses of $300,000. Calculate the profits and discuss what this might mean for their future business strategy.
Consider how the profit can be reinvested by the business.
Evaluate how a drop in profits can affect governmental policies in a recession context.
Ponder the role of government interventions during economic downturns.
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