What is the role of profit in bussiness
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In all business undertakings in the private sector, the main motive is to earn profit. ... Profit is the total revenue from sales minus the total cost of resources employed by the entrepreneur. ... The answer will be Profit maximization and earning is not the sole objective of business.
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Profit is the surplus revenue after a firm has paid all its costs. Profit can be seen as the monetary reward to shareholders and owners of a business. In a capitalist economy, profit plays an important role in creating incentives for business and entrepreneurs
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