Two Components of a Problem Are

question 21

Multiple Choice

Two components of a problem are

• A)a description and a course of action
• B)a situation and a difficulty
• C)an unsettled matter and a demand for services
• D)determining who the client is and what the client needs

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Definitions:

Profit

The financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Industry Supply

The total output of goods or services that firms in a specific industry are willing and able to sell at various prices, over a certain period.

Industry Demand

The total demand for all the products or services produced by a particular industry.

Positive Profits

Earnings that occur when a company's total revenues exceed its total costs, indicating financial gain from its operations.