Define business. what is the role of profit in business.
Answers
Answer:
Profit is the surplus revenue after a firm has paid all its costs. ... In a capitalist economy, profit plays an important role in creating incentives for business and entrepreneurs. For an incumbent firm, the reward of higher profit will encourage them to try and cut costs and develop new products.
Explanation:
Can you please mark mine as brainlest please .
Answer:
a person's regular occupation, profession, or trade.
"experts who typically conduct their business over the internet"
encourages innovation, costs cutting and improvements in business operations
Explanation:
In a capitalist society profits play a crucial role in creating incentives for business owners and entrepreneurs. The reward of profit encourages innovation, costs cutting and improvements in business operations in addition to meeting the needs and wants of the community effectively.
