What is a business and how does it survive and maintain a ...

[joesmith1212]

What is a business and how does it survive and maintain a profit?

Question 2

Buyers that purchase dresses in Europe or calculators in Taiwan and have them shipped back to the United States for resale are engaging in
 A) exporting.
  B) shipping.
  C) importing.
  D) expelling.
  E) dumping.

[Silverbeard98]

Answer to Question 1

A business is any organization or activity that provides goods and services in an effort to earn a profit. Profit is the financial reward that comes from starting and running a business. More specifically, profit is the money that a business earns in sales (or revenue), minus expenses such as the cost of goods and the cost of salaries. But clearly, not every business earns a profit all the time. When a business brings in less money than it needs to cover expenses, it incurs a loss. If you launch a music label, for instance, you'll need to pay your artists, lease a studio, and purchase equipment, among other expenses. If your label generates hits, you'll earn more than enough to cover all your expenses and make yourself rich. But a series of duds could leave you holding the bag. Just the possibility of earning a profit provides a powerful incentive for people of all backgrounds to launch their own enterprises.

Answer to Question 2

C

[joesmith1212]

YES! Correct, THANKS for helping me on my review

[sarah_brady415]

Thanks for the timely response, appreciate it