How do economists differ from accountants, Business Economics

Assignment Help:

How do economists differ from accountants in the use of the term profit ?

Definition of rev and accounting costs

  • Explanation/outline of opportunity costs, for example

a) foregone interest

b) foregone wages

c) risk premium

  • accounting costs + opportunity costs = economic costs
  • Explanation of normal profit as covering all accounting and opportunity costs
  • Explanation of abnormal profit

 


Related Discussions:- How do economists differ from accountants

What are implications of sustainability in economic growth, What are the im...

What are the implications of the sustainability in economic growth? Implications of the sustainability in economic growth: Moving in the direction of sustainable development

Introduction., need help how to write a introduction for the assignment of ...

need help how to write a introduction for the assignment of business environment

What are the predictions of dependency theory, What are the predictions of ...

What are the predictions of dependency theory? The predictions of dependency theory: • DCs exploit LDCs (Less Developed Countries) by extracting their surplus value. Surplu

Firm, What is a firm

What is a firm

Statistically significantly, Suppose that historically, the proportion of p...

Suppose that historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months, in a sample of 115 new-

Sales promotion, explain major decisions in successful implementation of sa...

explain major decisions in successful implementation of sales promotion programs

What is the marshal plan, What is the Marshal Plan? Marshal Plan: ...

What is the Marshal Plan? Marshal Plan: The Marshal Plan noticed massive aid to post war Europe that led to quick recovery. That Marshal Aid helped but the accurate social

What are the major problems in measuring national income, What are the majo...

What are the major problems in measuring national income? The major problems in measuring national income: a. Unreliable statistics data collection is costly and the figu

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd