Examlex
According to the text, a salesperson's purpose, plan, and goal do not center on helping but on selling.
Economic Profit
The difference between total revenue and total costs, including both explicit and implicit costs, indicating the financial gain exceeding the opportunity costs of resources.
Implicit Costs
Non-direct payments or out-of-pocket costs, representing the opportunity costs of using resources owned by the firm for its own use.
Explicit Costs
Payments made directly to individuals or entities for business operations, including salaries, leasing costs, and supplies.
Implicit Costs
The opportunity costs of using resources that a firm already owns, rather than the expenses directly paid out.
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