• Business

    PRICE AND PROFIT: INVESTIGATING THE CONUNDRUM

    It appears reasonable to define profit as what is left-over after all tangible, specifiable and quantifiable costs have been paid. Hence, it is considered to be the reward for tangible factors that are crucial to business. These would include risk, entrepreneurial creativity, initiative and the deferment of the use of one’s resources. Reasons for the justification of profit is that many of the solutions to problem in business effect affect profits, these include pollution, adequate workers’ wages, conducive work environment, genuine products and honest adverts. For many people, the intangible element that may justify profit do not have as much important as other immediate, basic, tangible and seeming pressing needs…