profit,in economics, return on capital, also called earnings, minus the costs of maintaining land, labor, and capital. It is also known as net income. Economic theorists generally make a distinction between two types of profit: normal profit, in which the entrepreneur receives the minimal necess...
Define Economic profits. Economic profits synonyms, Economic profits pronunciation, Economic profits translation, English dictionary definition of Economic profits. gain; benefit; income from investments or property: The sale made a profit. Not to be con
Profit motive is also what separates a hobby from a business in the eyes of the IRS—losses from a hobbyare non-deductible because there is no intent to make real economic profit. Since hobbies are activities participated in for self-gratification, losses incurred from engaging in them cannot ...
the difference that arises when a firm'sTOTAL REVENUEis greater than itsTOTAL COSTS. This definition of‘economic profit’ differs from that used conventionally by businessmen(accountingprofit)in that accounting profit takes into account only explicit costs. Economic profit can be viewed in terms of...
for-profit in the Economics topic by Longman Dictionary of Contemporary English | LDOCE | What you need to know about Economics: words, phrases and expressions | Economics
Definition Synonyms English Collocations WordReference English-ChineseDictionary © 2025: 主要翻译 英语中文 profitn(earnings)SCSimplified Chinese赢利yíng lì TCTraditional Chinese贏利 SCSimplified Chinese利润yíng lì,lì rùn TCTraditional Chinese利潤 ...
profit, - the use of accrual basis in accounting, while economic amounts are the result of using the cash basis, - definition of profit in accounting as a result of operation in the previous period, that is ex post, while the definition of profit in economics is bas...
What formula can be used to determine the percentage increase in profit margins? What is the total revenue? How do you calculate a bank's net worth? How do you maximize profit? What is the definition of total revenue? What is leverage ratio in economics? How is it calculated? What is ...
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Explore net profit. Learn the definition of net profit and understand the difference between gross profit and net profit. See net profit formula with examples. Updated: 11/21/2023 Table of Contents What is Net Profit? Net Profit Formula Net Profit Calculation Examples Lesson Summary Frequently ...