Sports & Entertainment Marketing Review 2024

The amount of money remaining from income after all expenses are paid refers to...

• profit motive

• profit

• revenue

• gross margins

Profit motive means that a company

• believes innovation is at the core of all products sold

• makes decisions on how to use resources in ways that result in the greatest profit.

• stays on a frugal budget.

• desires to achieve greatness with all their hard earned assets.

The study of how goods and services are produced, distributed, and consumed is considered...

• budgetary regulating

• macro-innovation

• economics

• economic impact

_________ is the effect produced by decisions made by consumers and businesses .

• economics

• revenue stream

• opportunity costs

• economic impact

Tom helped his cousin move. He spent $50 for gas for his truck, and $15 for work gloves. His uncle paid him $150 for his help. What was Tom's profit?

• $85

• $150

• $215

• $65

Evan earned $450 by doing yard work. His profit was $325. How much were his expenses?

• $325

• $775

• $450

• $125

When a business does not make enough revenue to cover its expenses, this is known as a ________

To calculate a businesses "profit", the calculation we use is:

• Revenue - Expenses

• Profit- Expenses

• Costs + Revenue

• Income - Profit

When a business makes decisions on how to use resources in ways that result in the greatest profit, they have a ______ ______

• Profit preference

• Revenue Motive

• Profit Motive

Any form of communication used to inform, persuade, or remind people about a business's products.

• Marketing Information Management

• Promotion

• Selling

• Financing