A Normal Profit Is Defined as

question 54

Multiple Choice

A normal profit is defined as

• A) the same thing as accounting profit.
• B) the economic profit minus the implicit costs.
• C) the return to entrepreneurship.
• D) total revenue minus explicit costs.
• E) total revenue minus implicit costs.

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Definitions:

Satisfying Needs

The process of fulfilling basic and psychological desires or requirements of individuals or communities.

Consumer Behaviour

Researching the behaviors of individuals, groups, or corporations in how they identify, secure, use, and eliminate offerings such as products, services, experiences, or ideas to address their necessities, and examining the impact of these behaviors on consumers and societal structures.

Purchase

The process of purchasing products or services.

Dispose

The act of getting rid of something, typically something that is no longer useful or desired.