It describes the service sector, also called as tertiary sector which is the third of the three traditional economic sectors. The service sector provides service not an actual product that could be held in hand. Undertakings in the service sector comprise hotels, banks, trade, real estate, social work, education, health, media, recreation, computer services, electricity, communications, gas and water supply.
One sample of this are banks which left over big changes in the late 20th century with the use of information and communication technology, banks have massively condensed the number of people they need to employ, and dropped the cost of provided that bank service. For example, an ATM is capable to deliver basic banking services 24 hours a day, 7 days a week, in many dissimilar places. Before this, banking facilities were only accessible from the bank once it was open. Many banks and building civilizations have combined together to form much lesser cost businesses that can make a lot of money from a broader customer base. The important to this procedure is in advance of data about their customers and continually approaching up with innovative services for them.
Like I’m going to increase my production by 100%
Answer:
$0
Explanation:
Given that,
Total revenues = $4,000,000
Cost of goods sold = $3,500,000
Depreciation expense = $500,000
Interest expense = $120,000
Earnings before interest and taxes (EBIT):
= Total revenues - Cost of goods sold - Depreciation expense
= $4,000,000 - $3,500,000 - $500,000
= $0
Therefore, the EBIT for a firm is $0.