Macroeconomics Focuses on the Behavior of Economic Agents Such as the Consumer,a

question 105

True/False

Macroeconomics focuses on the behavior of economic agents such as the consumer,a business firm,or a specific market.

---

Definitions:

Inventory Turnover

A ratio indicating how often a company sells and replaces its stock of goods during a period, calculated as cost of goods sold divided by average inventory.

Cost of Goods Sold

The exact costs incurred in the creation of a company’s sold goods, including the expenses for materials and labor.

Average Inventory

An estimation of the amount of inventory a company typically holds over a specific period, calculated as the average of the beginning and ending inventory.

Net Income

The company's net income, calculated by deducting all costs, taxes, and losses from its total revenue.