Economic cost is the total cost of choosing one action over another. It includes the actual funds spent (accounting cost) and the amount of money that could have been made by using the funds spent and other resources on some other action (opportunity cost).
The definition of economic gain is opportunity costs that are deducted from revenues earned. Economic gains are good as it means a country is growing financially and economically.
The making of purposeful decisions in the context of marginal costs and marginal benefits.
Entrepreneurs economic aspects
yes
no answer
The definition of economic gain is opportunity costs that are deducted from revenues earned. Economic gains are good as it means a country is growing financially and economically.
The making of purposeful decisions in the context of marginal costs and marginal benefits.
Well....That would be the control of costs
the definition of labor and economic
Entrepreneurs economic aspects
yes
no answer
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To determine economic profit in a business, subtract total costs (including both explicit and implicit costs) from total revenue. Economic profit is calculated by subtracting all costs, including opportunity costs, from total revenue.
Economic costs is the decrease in goods and services that occurs as result of unemployment but non-economic cost is the increase in goods and services that occur as result of unemployment.
The definition of economic development is the process in which an economy grows or changes and becomes more advanced, especially when both economic and social conditions are improved.
yo moma !