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What is the role of profits in business ?
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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.
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Without profit anybody did not do any type if buisness . profit is necessary for any type of buisness . Buisness man start buisness to gain or for profit not for loss. Any buisness man start any buisness for earn something extra money or for profit. Role of progit in buisness is to make feel better a buisness to did not lose hope in their buisness . any buisnessman had to face somtime loss or profit . so ,this is the role of profit in the buisness.
ASHUTOSH TIWARI
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