Αποτελέσματα Αναζήτησης
Opportunity Cost = the value of the opportunity lost. Value. has a benefits and a cost. Choose the option (product) with the greatest benefit & lowest cost (monetary value). Study with Quizlet and memorize flashcards containing terms like Opportunity Cost, Basic Economic Problem, An example and more.
Study with Quizlet and memorize flashcards containing terms like Revenue, Business model, Cost-volume profit analysis and more.
As required, we have to provide five (5) examples of selling and distribution costs. Here are the examples: Salesperson's commissions; Salespersons' salaries; Delivery and trucking expenses; Advertising; Store rent expense
“Selling costs may be defined as costs necessary to persuade a buyer to buy one product rather than another or to pay from one seller rather than another.” Meyers. Assumptions: Basically, the concept of selling cost is based on the following two assumptions: 1. Buyers do not have any perfect knowledge about the different types of product. 2.
What is an economic cost? A) The opportunity cost less the explicit costs. B) The same as opportunity cost. C) The total of all explicit and implicit costs. D) The total revenue less total...
We will see in the following chapters that revenue is a function of the demand for the firm’s products. Total cost is what the firm pays for producing and selling its products. Recall that production involves the firm converting inputs to outputs. Each of those inputs has a cost to the firm.
Sales - Cost of Goods = Gross Profit Margin - Variable Expenses - Fixed Expenses = Net Profit. 1st step of Break-Even Analysis. Gather data from Income Statement such as sales, cost of goods, gross profit margin. 2nd step of Break-Even Analysis. Classify expenses as either variable or fixed expenses.
