Answer:
a. Economic profit is the excess of revenue over both opportunity (implicit) and explicit costs. Explicit costs are the cost of all inputs used.
b. The difference between economic profit and accounting profit is that in calculating economic profit, both the explicit costs and the implicit or opportunity costs are deducted from the revenue. Whereas, in computing the accounting profit, only the explicit costs are deducted from the revenue.
c. Economists measure economic profit rather than accounting profit because economists believe that the real cost of an output includes the economic or opportunity cost (potential benefits lost as a result of the course of action chosen).
Explanation:
Opportunity cost is the implicit cost incurred, which is equal to the potential benefits lost by an individual or a business, when an alternative is chosen instead of the other alternative. It is an important concept in the computation of economic profit. The concept ensures that both implicit and explicit costs are considered when determining the profits generated by a business.
Answer:
These are the options for the question:
market-based
communist
command
laissez-faire
mixed
And this is the correct answer:
mixed
Explanation:
A mixed economy is an economy that either:
- Mixes state intervention with a free-market economy.
- Has some sectors of the economy run in market-based style, and other sectors in a planned-style.
- Has coexistence of public enterprises and private enterprises.
In the question, we have an example of a mixed economy because in the energy sector (a crucial sector in any economy), there is one public company competing against private companies.
The economy becomes even more mixed when the government lowers the tax rates of the private companies, so that both the public firm and the private firms compete under the same conditions.
Answer:
accountability metrics
Explanation:
Accountability metrics are used by companies to measure the specific financial results of marketing campaigns. Marketing campaigns are expensive and require a lot of resources, both financial and labor resources, and as competition between producers increases, so does competition among marketing firms. The best way a marketing firm can increase its clients is by showing that their campaigns are effective, so every dollar invested by their clients will generate positive returns.
Answer:
Explanation:
To obtain the needed detail of order table and order date for each order place by customer, has to be filtered with "John's Department Store"
select ORDER_NUM, ORDER_DATE frome orders as o
inner join customer as c on c.CUSTOMER_NUM=o.CUSTOMER_NUM
where c.CUSTOMER_NAME = "Johnson's Department Store"
One of the main reasons that stocks do not reflect the health of the economy most of us experience is the rise of stock buybacks. Companies often push stocks higher, partly and arguably, to raise the value of the stock options of their management by buying them on the open market.
HOPE THIS HELPS
