An Alternative to the Limitation of Focusing on Profits Would

question 141

Multiple Choice

An alternative to the limitation of focusing on profits would be

• A)communicating other measures are important but continue to base rewards on profits.
• B)overstate the value of ending inventory in order to reduce cost of goods sold and improve operating income performance.
• C)focus on long-term objectives and appropriate emphasis on profit.
• D)analyze the product mix.

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

Analyze the role of government and non-governmental organizations in the advancement of public health.

Identify key figures and their contributions to public health and nursing.

---

Definitions:

Economic Profits

Economic profits are the financial gains that exceed the total costs of production, including both explicit and opportunity costs, indicating an above-normal return.

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced; it decreases as production increases.

Short Run

A time period in economics during which at least one input, such as plant size, is fixed and cannot be changed.

Competitive Firm

A company that operates in a market with many sellers, where it has little to no control over the price of its product.