Map of italy us military base for Economic profit and accounting profit are the same when all of the factors of production, i.e. land, labor, and capital are credited with their respective full opportunity cost. It is important to note that reported profits of publicly traded companies are not profits from the strictly economic point of view. The principal reason behind that fact is the difference between actual money outlays and full-imputed costs of factors of production. Having defined profit as a residual sum, it is necessary to explain how a factor of production, namely the entrepreneur, can receive earnings above that which would keep her in a particular business.
Map Of Italy Us Military Base Gallery Photos
Map Of Italy Us Military Base
One way to proceed is to examine the leading theories of profit, which go back to the beginnings of economics as a science. Map of italy us military base 2016.