Question

what is the role of profit in business?​

Answer 1

Profit is a source of finance for expansion and diversification of business activities... A part of the profits can be retained for increasing the volume of the business.

Functions of profit: Source of income : It is the most important source of income and provides livelihood for the businessman.

Answer 2

ϘႮᎬՏͲᏆϴΝ :

What is the role of profit in business?

ᎪΝՏᏔᎬᎡ :

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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