Economic Glossary | Profit | Bankers Algo
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-by Eleanor Roosevelt

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Economic Glossary

    Profit

As a generic term, this is the difference between revenue and cost. There are, however, three specific sorts of profit, each with a different meaning. Accounting profit is the difference between revenue and accounting expenses. Economic profit is the difference between revenue and the opportunity cost of production. Normal profit is the economic profit that could be earned by an entrepreneur in another business and is thus an opportunity cost deducted from revenue when calculating economic profit.


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Banker's Algo Daily Dose

Word of the day

Forfeit(n)

Meaning:

something given as sacrifice

Synonyms: cost, damages, fine, loss

Antonyms: gain, victory, win

Apti Question of The day

Question

If 2x + 3y + z = 55, x + z – y = 4 and y – x + z = 12, then what is the value of y?

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