Question

What is the meaning of 'decline'?

1) A fall in the output of the economy
2) When sales fall faster than costs of production
3) A fall in sales revenue
4) The last stage of a product's life cycle when sales fall sharply

Answer 1

'Decline' refers to a fall in sales revenue. This can happen when there is a decrease in demand for a product or service or during economic recessions.

Step-by-step explanation:

'Decline' in the context of the given options refers to a fall in sales revenue. It is the third option listed. When sales revenue decreases, it indicates a decrease in the amount of money a business is generating from sales. This can occur when there is a decrease in demand for the product or service being offered or when there are external factors affecting sales, such as economic recessions.