Briefly Discuss What Gross Profit Represents and How It Affects

question 205

Essay

Briefly discuss what gross profit represents and how it affects the net earnings of a merchandiser.

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Definitions:

John Rawls

An American political philosopher known for his theory of justice as fairness, which includes principles of liberty and equality that govern the basic structure of society.

Distributional Justice

The ethical concept concerning the fair allocation of resources among diverse members of a community.

Utilitarian Justice

principle focusing on creating the greatest good for the greatest number, often used in ethical decision-making and policy evaluation.

Distributional Justice

The ethical consideration of how economic benefits and burdens should be distributed among different members of society.