Accountants only concern themselves with direct costs which involve things like the cost of materials, rent, and labor for instance. This profit is aptly named "accounting profit".
Economists consider those costs as well, but they also include indirect costs such as opportunity costs of other investments. Recall that opportunity cost is the cost of what you give up if you make a certain decision.
For instance, if a car factory makes 4 door sedans, but it could be making more money with SUVs, then the opportunity cost is high and the economic profit is lower compared to the accounting profit.
Answer:
flexible, short-term, and independent jobs
Explanation:
Answer:
Europe was part of the Roman Empire until the 5th century. After parting ways, Europe faced its darkest age until 1020, it started making steady progress in the field of agriculture, trade, craftsmanship etc.
Mills, storage, horse harnesses, harvesting, threshing etc improved drastically due to wide contact with people from different regions, spreading their knowledge in Europe.
Crusade trading had also started during the time while Europe faced a spike in population as well.
The East Asian States during this whole time faced many political troubles. Their governments kept on changing continuously from one dynasty to another.
Meanwhile, in these regions, Da-rul-Islam had formed deep roots as a result of which many forms of art and traditions excelled. <em>Muslim scientists continuously made astonishing discoveries one after another</em>.
<em><u>Jonathan's learning style is mathematical/logical.</u></em>
