Introduction

Question 1

Define “wine business”

Answer 1

• The activity of making and selling wine for profit

Question 2

Define “profit”

Answer 2

The surplus remaining after total costs are deducted from total income

Question 3

Define “loss”

Answer 3

When total costs are greater than total income

Question 4

Define “profit margin”

Answer 4

The percentage of sales that turned into profit (10 cents profit for every dollar is 10% profit margin)