Accounting Profit Minus Implicit Costs Is Equal to

question 45

Multiple Choice

Accounting profit minus implicit costs is equal to

• A) total revenue.
• B) economic profit.
• C) explicit costs.
• D) fixed and variable costs.
• E) the value of not operating this business.

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Definitions:

Global Inequality

The uneven distribution of resources, opportunities, and rights among different countries and peoples worldwide.

Acceleration of Globalization

The rapid increase in cross-border social, economic, and political exchanges which results in a more interconnected and interdependent world.

Conflict Theory

A sociological perspective that emphasizes the role of power and coercion in producing social order, focusing on the conflict between different social classes.

Structural Functionalism

An outlook within sociology that portrays society as an intricate network of components functioning collectively to foster cohesion and steadiness.