Examlex
When comparing the Chesapeake colonies to the New England settlements:
Accounting Profits
The net income of a company determined by subtracting total expenses from total revenues, according to generally accepted accounting principles.
Economic Profits
The difference between a firm's total revenue and its total costs, including both explicit and implicit costs, representing profit beyond the normal rate of return.
Opportunity Cost
The loss of potential gain from other alternatives when one particular alternative is chosen.
Savings Account
A deposit account held at a bank or other financial institution that provides principal security and a modest interest rate.
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