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

Alleviation of poverty, Question 1: Poverty reduction is generally infl...

Question 1: Poverty reduction is generally influenced by changes in average income and income redistribution. Thus, in practice it is hard to adjust to the right balance betwee

NPV, How do I calculate NPV with benefits and costs?

How do I calculate NPV with benefits and costs?

How does population growth produce development, How does population growth ...

How does population growth produce development? The impact of population growth depends upon the form: • By net migration. When the increase into population is highly skill

Socio economic problems, what are the major socio economic problems of Indi...

what are the major socio economic problems of India which hamper the growth and development

Post - transaction valuation, Please comment on the following statement. Tr...

Please comment on the following statement. True, False, or Uncertain: If an investor believes that the total valuation of a company is higher than the post-transaction valuation fo

Define the implications of dependency problem, Define the implications of d...

Define the implications of dependency problem. Implications of dependency problem: To escape exploitation, underdeveloped countries should gain political, economic and so

What is the group mean, Below is a given Frequency Distribution Table which...

Below is a given Frequency Distribution Table which needs the Student's attention. Please complete the table as necessary to find the following information: a.        What is th

Firm, how managerial economics is applied in a firm?

how managerial economics is applied in a firm?

Currency option combinations, Currency Option Combinations A currency o...

Currency Option Combinations A currency option combination uses simultaneous call and put option positions to construct a unique position to suit the hedger's or speculator's n

How can trade agreements assist development, How can trade agreements assis...

How can trade agreements assist development? A trade agreement is while two or more countries to by decrease or abolish tariffs, non-trade and quotas barriers which are establ

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