Some articles on economic, economic profit, profit, profits, economics:
... Some critics believe that measuring economic value, economic profit, or shareholder value is sufficiently complete to guide decision-making ... Their logic is that all other forms of value are essentially intermediate to the ultimate goal of economic profit ... Furthermore, if they do not contribute to economic profit, they are actually a distraction for the firm ...
... all firms are following rational decision-making, and will produce at the profit-maximizing output ... Given this assumption, there are four categories in which a firm's profit may be considered to be ... A firm is said to be making an economic profit when its average total cost is less than the price of each additional product at the profit-maximizing output ...
... There are several important profit measures in common use ... Note that the words earnings, profit and income are used as substitutes in some of these terms (also depending on US or UK usage), thus inflating the number of profit measures ... Gross profit equals sales revenue minus cost of goods sold (COGS), thus removing only the part of expenses that can be traced directly to the production or purchase of the goods ...
... allocative efficiency, equity, product quality, technical progress, profits government policy government regulation, antitrust, barriers to entry, taxes and subsidies ... increase the understanding of how industries operate, improve the industries contribution to the economic welfare, and to improve government policy toward these industries ... The economic theorists express that effect in terms of higher profits earned by the monopoly ...
... In economics, a firm is a monopoly when, because of the lack of any viable competition, it is able to become the sole producer of the industry's product ... set a price that is significantly higher the Marginal (Economic) cost of producing (the last unit of) the product ... and to generate an economic profit over and above the normal profit that is typically found in a perfectly competitive industry ...
Famous quotes containing the words profit and/or economic:
“Phlebas the Phoenician, a fortnight dead,
Forgot the cry of gulls, and the deep sea swell
And the profit and loss.
A current under sea
Picked his bones in whispers. As he rose and fell
He passed the stages of his age and youth
Entering the whirlpool.”
—T.S. (Thomas Stearns)
“The bourgeois takes economic power very seriously, and often worships it quite unselfishly.”
—Nicolai A. Berdyaev (18741948)