Costs Can Be Defined as Total Payments Made to Workers

question 93

True/False

Costs can be defined as total payments made to workers, landowners, and capital suppliers less payments to the entrepreneur for organizing and combining the other resources used to produce a good.

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Definitions:

Increased

This term denotes a situation or quantity that has become larger or greater in size, amount, number, or degree.

Direction

In finance, it refers to the trend or movement of market prices or interest rates.

Profit Margin

A financial metric that shows the percentage of revenue that exceeds the costs associated with making or buying the goods or services sold.

Net Income

What remains as a company's profit once revenue is adjusted for taxes and expenses.