Explicit and implicit costs and accounting and economic profit

added article Financial Services

2023-02-23 18:34:44 -

Key points Privately owned firms are motivated to earn profits. Profit is the difference between revenues and costs. Private enterprise is the ownership of businesses by private individuals. Production is the process of combining inputs to produce outputs, ideally of a value greater than the value of the inputs. Revenue is income from selling a...

0 Comments 0 Shares 5547 Views 0 Reviews