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Recommended textbook solutions Principles of Economics7th EditionN. Gregory Mankiw 1,263 solutions Economics: Principles in Action1st EditionArthur O'Sullivan, Steven M. Sheffrin 831 solutions Economics1st EditionGrant Wiggins 890 solutions Principles of Corporate Finance12th EditionFranklin Allen, Richard A. Brealey, Stewart C. Myers 600 solutions What is the amount of goods and services people can buy with the money they have?Purchasing power is the value of a currency expressed in terms of the number of goods or services that one unit of money can buy.
What is an entity that seeks profit by providing goods or services to others?Business. Any commercial activity that seeks profit by providing goods and services to others in exchange for money.
Is the amount a business earns over and above what it spends for salaries and other expenses?Revenue is the amount a business earns above and beyond what it spends for expenses and costs.
Is any activity that seeks to make a profit by satisfying needs through selling goods or services and generating revenue?Cards
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Is the money left over after a business has paid the cost of providing its goods and services?
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