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Exhibit 31-1 MATCH a Term or Structure from the List Below to Below

question 29

Multiple Choice

Exhibit 31-1
MATCH a term or structure from the list below to each of the following definitions or names. Place the letter of the term or structure in the blank to the left of the definition or name which it describes.

-____ Bakelite is this type of polymer.


Definitions:

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the efficiency with which a company utilizes its resources.

Explicit Costs

are direct, out-of-pocket payments for expenses incurred by a business or individual.

Revenues

The total income generated by a company or organization from its activities, before any expenses are subtracted.

Economic Profit

The difference between the total revenues received by a business and the total opportunity costs of all resources used in the production.

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