Question

why profit motive of business is intensive. do you think its losing its regards in the minds of public?

Answer 1

Answer:

In economics, the profit motive is the motivation of firms that operate so as to maximize their profits. Mainstream microeconomic theory posits that the ultimate goal of a business is to make money. Stated differently, the reason for a business's existence is to turn a profit.

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Answer 2

The profit motive of business is intensive since the profit offer a good of value to the economy. It is the force that encourages the people and organizations to improve their material well-being, hence it has no lost its regards in the minds of the public

Explanation:

• Profit is a very important for any business and it is a motivation for the business firms to maximize on their profits.
• Profit motive ensures that the resources are used well and it is the financial return or reward that firms or entrepreneurs aim to achieve to reflect the risk that they take.
• In a free and competitive markets the profits focus on the products and it ensures that the resources are not wasted.

To know more about profit motive

Reason why profit is a primary motive

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