The reason monopolies, like governments, are inefficient is…
The reason monopolies, like governments, are inefficient is because there are no incentives for bureaucrats to be innovative or creative. In a free market, where there is competition, there is an incentive for business owners to be creative as they compete against other businesses.
Read DetailsOne formula for the calculation of gross profit is sales rev…
One formula for the calculation of gross profit is sales revenue – cost of goods sold. Peter Harley owns a company that sells $14,500 in widgets that cost $10 per widget. The widgets cost $5 to manufacture and $1 to ship his store where he sells them. His gross profit is… Below are some of the costs in COGS: Direct materials Direct labor Equipment costs involved in the production Utilities for the production facility Shipping costs
Read DetailsMost Canadians think working for someone else is less risky…
Most Canadians think working for someone else is less risky than starting your own business. Even if you disagree with that after taking this course would agree that most Canadians see entrepreneurship as more risky than getting a job?
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