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Manisha could work for another firm making $10,000 per month, but she decides to open her own gourmet cheese store and pay herself $2,000 per month. In her first month of operations, she spends $6,000 on cheese, $1,000 on other items, and $2,500 on rent. She had a great opening month and brought in revenues of $14,500. What are Manisha's economic profits?
Feudalism
A social system in medieval Europe where the nobility held lands from the Crown in exchange for military service, and vassals were in turn tenants of the nobles, while the peasants were obligated to live on their lord's land and give him homage, labor, and a share of the produce.
American Opinion
Refers to the collective attitudes or beliefs held by the American public on various topics and issues.
Poverty
A socio-economic condition characterized by a lack of financial resources and access to basic needs such as food, shelter, and healthcare.
Socioeconomic Status
A combined measure that typically includes a person's income, education level, and occupation to classify their position within society.
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