Examlex
_______________ are used to create a sense of obligation,because someone is doing something nice for you.
Accounting Profits
The total revenue of a business minus the explicit costs associated with producing goods or services, not accounting for implicit costs.
Economic Profits
The variance between a company's overall earnings and the sum of its explicit and implicit expenditures.
Explicit Costs
Explicit costs refer to direct payments made for the operation of a business, like wages, rent, and materials.
Entrepreneur's Talent
The unique set of skills, insights, and experiences that an entrepreneur brings to a business venture, often driving its success.
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