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Profit

The reward for enterprise is called profit. This is the return for the entrepreneur’s business ideas and risk taking in starting up and running the organization. Profit is what remains after all costs of production have been accounted for, including payments to the other three factors of production.

Where this appears

The syllabus topics that use this term.

  • 1.1Factors of Production
  • 2.11Monopoly

Taught in What Is Economics? Scarcity, Choice, and Economic Models

All 809 terms
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