Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Economics-Theme 3 > Business Objectives > Flashcards

Business Objectives Flashcards

1
Q

What are the conditions for profit maximisation

A

Output where MC=MR

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are the conditions for revenue maximisation

Give possible reasons for revenue maximisation

A

MR=0
-Managerial rewards and bonuses
-Managerial salaries based on revenue

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the conditions for sales maximisation

Give possible reasons for revenue maximisation

A

AC=AR
-Managerial rewards and bonuses
-Managerial salaries based on sales

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Describe profit satisficing

A

Enough profits to keep all stakeholders happy whilst following other objectives

How well did you know this?
1
Not at all
2
3
4
5
Perfectly

Economics-Theme 3 (21 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions