Asked by Bailey Glover on Jun 28, 2024
Verified
Which of the following in NOT a source of profit?
A) Innovation
B) Wages
C) Exercise of monopoly power
D) Risk taking
Source of Profit
The origin from which a business or economic activity generates earnings, often through the production of goods, provision of services, or investment activities.
Innovation
An idea that eventually takes the form of new, applied technology or a new production process.
Monopoly Power
The ability of a monopoly to dictate the terms of the market, including price and supply of a good or service, due to the lack of competition.
- Acquire knowledge about different economic doctrines and the economists connected to them.
- Acquire knowledge about the duties and opinions of entrepreneurs regarding the importance of risk in profit generation.
Verified Answer
ZK
Zybrea KnightJul 04, 2024
Final Answer :
B
Explanation :
Wages are a cost or expense for a business, not a source of profit. Profit is generated through innovation, exercise of monopoly power, and risk-taking.
Learning Objectives
- Acquire knowledge about different economic doctrines and the economists connected to them.
- Acquire knowledge about the duties and opinions of entrepreneurs regarding the importance of risk in profit generation.