Psychology is both an academic and applied discipline involving the scientific study of mental processes and behavior. Psychologists study such phenomena as perception, cognition, emotion, personality, behavior, and interpersonal relationships. Psychology also refers to the application of such knowledge to various spheres of human activity, including issues related to daily lifeâe.g.
What is the amount a business earns over and above what it spends for salaries and other expenses. Answer. Profit is the term used to describe the amount a business is left after expenses such as wages, rent, materials, etc.
Letâs take an example. Say your business grosses $500,000 a year and the business runs $400,000 in expenses each year. But $50,000 of those expenses are for items that youâd have to pay for personally if the business didnât pick up the tab.he might hire a manager to run it. Letâs say she could do that, but sheâd have to pay $60,000 to the person she hires. That being the case, the real net income of your business is probably around $90,000 each year before tax. ($150,000 profit less $60,000).