Fixed cost remains constant even if production is stopped
Answers
Answer:
In economics, output is defined as the quantity of goods or services produced in a certain period of time by a firm, industry, or country. Output can be consumed or used for further production. Output is important on a business and national scale because it is output, not large sums of money, that makes a company or country wealthy.
There are many factors that influence the level of output including changes in labor, capital, and the efficiency of the factors of production. Anything that causes one of the factors to increase or decrease will change the output in the same manner.
Revenue
Revenue, also known as turnover, is the income that a company receives from normal business activities, usually from the sale of goods and services. Revenue is the money that is made as a result of output, or amount of goods produced. Companies can also receive revenue from interest, royalties, and other fees.