How Is Fine Art Distinguished from Folk Art

question 93

Multiple Choice

How is fine art distinguished from folk art?

• A) Fine art is more finely made than folk art.
• B) Folk art is not done by real artists.
• C) Folk art is cheaply made and more likely to fall apart than fine art.
• D) Fine art is more expensive than folk art.

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Definitions:

Revenues

The total income generated by a company or organization from its activities, before any expenses are subtracted.

Economic Profit

The difference between the total revenues received by a business and the total opportunity costs of all resources used in the production.

Accounting Profit

The net income of a business as calculated by subtracting total expenses from total revenues, according to standard accounting practices.

Savings

Money that is not spent and is set aside for future use, often in a bank account or other financial instrument.