Examlex
Suppose that you open your own business and earn an accounting profit of $35,000 per year. When you started your business, you left a job that paid you a $30,000 salary annually. Also, suppose that you invested $70,000 of your own funds to start up your business. If the normal rate of return on capital is 10 percent, your economic profit is
Resources
Assets or materials that can be drawn upon by a person or organization in order to function effectively.
Stakeholders
Individuals or groups that have an interest or stake in the success and activities of a company or project.
Universalization Test
A philosophical concept used in ethics to determine if an action's principle can be applied universally without contradiction.
Universalization Test
A principle in ethics asking whether an action's rationale could be universally applied, contributing to evaluating its moral worth.
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