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What is a fundamental characteristic of resilient children?
Annual Revenue
The total amount of money earned by a business over a year from its sales or services.
Economic Profits
Profits calculated by subtracting both explicit and implicit costs from total revenues.
Explicit Costs
The direct payment made to others in the course of running a business, such as wages, rent, and materials.
Implicit Costs
Implicit costs are the opportunity costs associated with a company's use of internal resources that could have been utilized elsewhere, not directly paid out in cash.
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