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Define Profit

question 170

Essay

Define profit. Explain why you agree or disagree with the following statement: "The success of a business is measured only by the profit it earns."


Definitions:

Total Income

The aggregate income earned by all individuals or entities in an economy, including wages, profits, and rent.

Total Expenditure

The sum of all outlays or spending by an individual, household, or an economic entity within a certain period of time.

Market Prices

The current price at which an asset or service can be bought or sold in the market.

Paper Clips

Small pieces of bent wire or plastic used for holding together sheets of paper.

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