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

How does sectoral change enhance development, How does sectoral change enha...

How does sectoral change enhance development? The Lewis Model argues economic growth needs structural change into the economy whereby surplus labour into traditional agricultu

Credibility of policy rule, QUESTION Write detailed notes on the follow...

QUESTION Write detailed notes on the following: (a) Activist and non activist monetary policy debate. (b) Optimality of Policy Rule compared to discretionary monetary pol

Expenditure, why do businesses have to sped money (expenditure)in order to ...

why do businesses have to sped money (expenditure)in order to succeed?

Population Growth, Explain the notion of the hidden momentum of population ...

Explain the notion of the hidden momentum of population growth. Why is this an important concept for projecting future population trends in different developing nations?

What is the function of a quality plan, What is the function of a Quality P...

What is the function of a Quality Plan? Who must create it? The Quality Plan effectively defines how the work is to be executed and this is complementary to the Project Plan th

Arbitrage pricing theory, Question: (a) Assume that a market is in equi...

Question: (a) Assume that a market is in equilibrium and all investors agree that the return on any diversified portfolio P is equal to R P = a p + b p 1 F 1 + bp 2 F 2

Assignment, Assignment on discounting principle

Assignment on discounting principle

Microevironment factors, what microevrionmental factors have affected Sony'...

what microevrionmental factors have affected Sony''s performance since 2000

Principles of Economics, Short Answer Questions. assignment is based on ans...

Short Answer Questions. assignment is based on answers which align to DADA style. pls can u send a quote to me

What is the third world, What is the Third World? Third World: De...

What is the Third World? Third World: Developing countries are sometimes termed as collectively like the Third World. Such term can cause offence within developing nation

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