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economic profit: The difference between the total revenue received by the firm from its sales and the total opportunity costs of all the resources used by the firm. accounting profit: The total revenue minus costs, properly chargeable against goods sold. The term "profit" may bring images of m...
To keep learning and developing your knowledge of financial analysis, we highly recommend the additional CFI resources below: Economic Value Added Normal Profit Profitability Ratios Return on Assets (ROA) See all economics resources Financial Analyst Certification Become a certifiedFinancial Modeling and Va...
In economics, profit is the excess over the returns to capital, land, and labour (interest, rent, and wages). To the economist, much of what is classified in business usage as profit consists of the implicit wages of manager-owners, the implicit rent on land owned by the firm, and the...
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4. (Economics) economics a. the income or reward accruing to a successful entrepreneur and held to be the motivating factor of all economic activity in a capitalist economy b. (as modifier): the profit motive. 5. a gain, benefit, or advantage vb to gain or cause to gain profit [C14...
1Passage One The term profit in economics has a very precise meaning. Economists, however, often loosely refer to "good deals" or profitable ventures with no risk as profit opportunities. The general view of economics is that profit opportunities are rare. At any one time there are many peopl...
The term profit in economics has a very precise meaning.Economists,however,often loosely refer to “good deals” or profitable ventures with no risk as profit opportunities.Using the term loosely,a profit opportunity exists at the toll booths in one line is shorter than the others.The general ...
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Business Economics Profit (economics) What is meant by economic profit?Question:What is meant by economic profit?Profit:Profit defines the monetary gain obtained when the income earned by the business operation is more than its expenditure. The sum of revenue left over after all the required ...