Profit is the positive financial gain your business makes after you've subtracted all your expenses. ... You can then develop strategies to increase your profits, including ways to increase your sales revenue, your profit on individual products and services, and decrease costs
Answer:
When the cost of producing is less than the income.
Explanation
To be able to make a product or service a business has expenses, which are related to materials, building, electricity, labor etc... And the business also has an income, which is the total value of the sold products or services. In order to make a profit, a business needs to have more income than expenses.
