Finance 1 recovery

It’s the total income that a business earns of a period of time.

• Profit
• Expenses
• Revenue
• Liabilities

It is the total expenditures made by the business to get the operations going.

• Operating expenses

• Marketing budget
• Cost

• Maintenance costs

It is the result of revenue - cost

• Profit
• Expense
• Income
• Loss

The law of supply and demand states

• The price of a good will rise when the demand for it is greater than the supply, and it will fall when the demand is less than the supply.
• The price of a good will remain constant regardless of the demand and supply
• The price of a good will rise when the demand for it is less than the supply
• The price of a good will fall when the demand for it is less than the supply

The law of demand says

• As the price of a good or service increases, the quantity demanded for that good or service increases
• How many people will be able to buy a good

• The law of demand says that the price of a good or service has no effect on the quantity demanded
• As the price of a good or service increases, the quantity demanded for that good or service stays the same

The law of supply says

• The law of supply only applies to demand, not supply
• The law of supply has no impact on the quantity supplied by producers
• As the price of a good or service increases, the quantity supplied by producers decreases
• That a more valuable a product is, the more of it should be supply

If a price of an asset rises,

• the value of the asset decreases.
• the value of the asset remains the same.
• the value of the asset fluctuates.
• Less people will be able to pay for it

If prices are higher, producers can make more profit, but

• Demand may fall

• producers will experience no change in profit
• producers will not be affected by the price change
• producers will face lower production costs

The law of supply and demand seeks

• A balance between producers and consumers

• to regulate the production of goods
• to control the distribution of goods
• to set the quality standards for goods

Supply rises as price rises, and falls

• as the price falls

• Quantity supplied falls as price rises

• Supply remains constant regardless of price changes
• Quantity supplied rises as price rises