Payments that a firm makes to obtain needed resources comprise its:
A) Costs
B) Profits
C) Capital
D) Revenues

Question

Quizplus · Accepted Answer

Costs are the payments a firm makes to obtain the resources it needs, whether it be labor, materials, rent, or any other expenses. Profits are the money a firm earns after deducting its costs from its revenues. Capital is the money a firm raises from investors or lenders to finance its operations. Revenues are the money a firm earns from selling its goods or services.

Payments That a Firm Makes to Obtain Needed Resources Comprise