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Accounting Profits
The net income for a company calculated by subtracting total expenses from total revenues, according to standard accounting practices.
Economic Profits
The gap between a company's overall income and its combined explicit and implicit expenses.
Sales
Transactions involving the exchange of goods or services for money.
Explicit Costs
Direct, out-of-pocket payments for resources employed in the production of goods or services, such as wages, rent, and materials.
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