What is Total Revenue & How to Calculate it?
Healthy cash flow is essential for a company’s financial stability. Though having various expenses is inevitable as a business owner, having a greater profit or total revenue overall means you’ll…
Degrees Of Freedom In Statistics: Formula In Excel, Chi-Square & T-Test
The degrees of freedom (DF) formula indicates the number of independent values that can vary in an analysis without breaking any constraints. It is an important concept that appears in…
Industritial Revolution By Mechanical Reaper: Invention, Impact & Work
A mechanical reaper is an implement or person that cuts and gathers crops when they are ripe at harvest. Crops usually include cereal grasses. The first documented reaping machine was…
Marginal Utility: Definition, Formula, Example & More
Marginal utility helps both statisticians and somebody put a quantifiable knowledge of worth on goods. Businesses use marginal utility to define the completion of a product or service and adjust…
Money Multiplier: Definition, Formula, Examples & Effects In Real World
Money Multiplier Formula: The term “money multiplier” belongs to the aspect of credit formulation due to the partial reserve banking arrangement under which a bank is expected to operate a…
Economic and Accounting Profit: Definition, Formula & Examples
Economic Profit Formula: Economic profit is the distinction between total financial revenue and total costs, but total costs include both specific and implicit costs. Economic profit involves the opportunity costs…
Opportunity Cost: Definition, Formula & Examples
Opportunity Cost Formula: Opportunity cost describes the advantages an individual, investor, or business needs out on when choosing one alternative over another. While financial statements do not show opportunity cost,…