Profits in the Short Run Attract Resources to Industries in the Long

question 264

True/False

Profits in the short run attract resources to industries in the long run, allowing them to expand.

Identify the conditions under which negotiations are more likely to succeed or fail.

Recognize the various formats and settings in which negotiations can occur.

Learn the phases of the negotiation process and what occurs in each.

Understand the ethical considerations and consequences in negotiation practices.

---

Definitions:

Income Tax Rate

This is the percentage at which an individual or corporation is taxed on their income.

Unearned Revenue

Money received by an entity for goods or services to be provided in the future, recognized as a liability until the service is performed.

Net Income

The amount of money a company makes once it has paid off all expenses and taxes from its revenue.