What is the best definition of profit?
a. profit is the possible income from producing an additional item.
b. profit is the price of producing one additional unit of a good.
c. profit is the additional income gained from selling an additional good.
d. profit is the financial gain from business activity minus expenses.

The correct answer is D. Profit is the financial gain from business activity minus expenses.

Explanation:

For example a company whose business activity is selling chairs has sold 10 chairs in a month at 10 dollars each which it has bought in 6 dollars (per chair). The company has incurred 5 dollars as admin expenses and had paid 10 dollars to commercial bank as interest. So what is company profit?

Calculation.

The profit will be 25$ as shown below.

Sales                     (10*10) 100

Purchase               (10*6)  (60)

Admin expense                 (5)

Financial expense             (10)

Profit                                   25

b, fewer problems later! good luck

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

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