1) Why should a business owner be sure not to count his/her own salary in the profits of a business?
***Profit is not included in the amount of money a business owner pays himself/herself. Many new entrepeneurs forget to count the costs of their time and take out the salary. Or when times are tough the salry is the first thing they forget. - - -This is the book explaination, BUT I don't get the explaination. So can anyone tell me the meaning of this pharagraph and find the answer within this pharagraph.
2) Identify two of these new or improved products. - What does this mean? Do I have to write about the characteristics of how the product improve as well?
3) How might increased competition affect profit?
4) Define obsolescene
PLZ help me with this one: Give an example that shows how businesses are interdependent, and another example that shows how businesses and consumers are interdependent. What does interdependent means?
***Profit is not included in the amount of money a business owner pays himself/herself. Many new entrepeneurs forget to count the costs of their time and take out the salary. Or when times are tough the salry is the first thing they forget. - - -This is the book explaination, BUT I don't get the explaination. So can anyone tell me the meaning of this pharagraph and find the answer within this pharagraph.
2) Identify two of these new or improved products. - What does this mean? Do I have to write about the characteristics of how the product improve as well?
3) How might increased competition affect profit?
4) Define obsolescene
PLZ help me with this one: Give an example that shows how businesses are interdependent, and another example that shows how businesses and consumers are interdependent. What does interdependent means?