Role of Bussiness

Question 1

What is:
Net profit
Gross profit

Answer 1

net profit is the money you have after deducting taxes and expenses
gross is the total amount of money you have made before deductions

Question 2

what is dividends

Answer 2

is money distributed to a shareholder after a company has received its full year earnings

Question 3

innovation vs invention

Answer 3

invention is to discover or make something brand new

innovation is to use an invention and modify it to be better

Question 4

3 industry sectors and role

Answer 4

Primary - is production rhat is directly associated with natural resources(farming,mining)
Secondary - using primary materials and turning them into finished/semi finished products. ( cars, iron to steel)
Tertiary - business that provide a service ( dentists, banks, health workers )

Question 5

Quaternary v Quinary

Answer 5

quaternary - services thag involve transfer and process of information and knowledge
quinary - services rhat have traditionally been performed at home