3 years ago

Accounting profit differs from economic profit because

1 answer:

3 0

Economic profit is the difference between total monetary revenue and total costs, but total costs include both explicit and implicit costs. Economic profit includes the opportunity costs associated with production and is therefore lower than accounting profit.

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4 years ago

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3 years ago

If two people are invited to invest and become partners in a business, the business owners will then the risk.

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3 years ago

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The phrase "invisible hand" means that:

never [62]

Answer:

The correct answer is letter "B": The tendency of competition to cause individuals and firms to unintentionally promote the interests of society.

Explanation:

In his book "An Inquiry into the Nature and Causes of the Wealth of Nations" (1776), British economist Adam Smith (1723-1790) introduced the term "invisible hand" to refer that economic factors (buyers and sellers) naturally influence in the fluctuations of supply and demand without the need for the intervention of the government.

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3 years ago

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Dmitry_Shevchenko [17]

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3 years ago