Answer: D) the amounts received from customers for goods or services and the amounts paid for the inputs used to provide the goods or services
Explanation:
The profit is the difference between the income and the expenses as:
Profit = Income - expense
Income is money that one earn profit in their business and expenses are the money which we spend. And your total income is your revenue. And if the number is in positive value then, it makes profit. Therefore, (D) is the correct option.
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A mobile phone is used by a user to perform communications-related tasks . It is used to transfer data between systems.
The most commonly used wireless communication protocol for cellular services. It employs packet switching technology, which divides data into packets for transmission before reassembling it at the other end. GSM is a digital cellular technology that provides mobile data and phone services on a wide range of devices. The Global System for Mobile Communication (GSM) is one of the 2nd telecommunications standards (2G). GSM is simply a wireless network that allows data to be transferred between mobile devices.
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<u>Answer:</u>
Difference between money paid to and money received from other nations in trade is called balance of trade is a <u>TRUE</u> statement.
<u>Explanation:</u>
The difference between the export and the import done by the country is usually termed as the balance of trade. Even though the sum of payments and receipts is necessarily equal, in different types of transactions there will be disparities — excesses of transactions and receipts, named deficits and surpluses.
Trade balance does not include any goods (not even product import and export). For example, China, a nation where many of the globe's consumer goods are manufactured and exported, has registered a trade surplus since 1995. Because of its dependence on oil imports and consumer goods, the United States has shown a trade deficit since 1976.
Answer:
Line production system
Scale of production
Development of Factories
Development of Capital Machinery
Development of Capital Goods Industry.
Explanation:
Line production system: This system was adopted in manufacturing companies to divide the tasks between the workers so a product can be manufactured in the fastest way possible
Scale of production: The manufacturing industry develop high levels of production that allow surpluses of production of goods in the economy.
Development of Factories: The manufacturing industry was the first in organize the Plant for production purposes. Therefore, the creation of what is nowadays known as factories was a consequence of this organization.
Development of Capital Machinery: Manufacturers Researched and developed new machines to improve the times of production. With time this technology was used for more industries to achieve fast performances.
Development of Capital Goods Industry: As machines were developed the industry of Capital goods arose and became an important source of technology for companies.
