Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT (Figures in $ millions) Net sales $ 13,900 Cost of goods sold 4,460 Other expenses 4,197 Depreciation 2,758 Earnings before interest and taxes (EBIT) $ 2,485 Interest expense 725 Income before tax $ 1,760 Taxes (at 30%) 528 Net income $ 1,232 Dividends $ 936

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

answer; importance to people; or acceptance;

answerchemical property;