Answer:
Yes.
Explanation:
We know,
Accounting profit = Revenue - Explicit cost.
Economic profit = Revenue - Explicit cost - Implicit cost
Explicit cost is the day to day expenses, while the implicit cost is the expanses that have already occurred.
Therefore, the explicit cost may not be higher than the revenue. So accounting profit can be positive.
However, as we have to deduct the explicit cost as well as implicit cost from economic profit, it can be positive, negative, or even zero. So the statement is correct.
It is possible for accounting profit to be positive and economic profit to be negative when the implicit costs used in calculating economic profit are greater than the accounting profit. This indicates that the resources used in the business could generate higher returns if invested elsewhere.
Yes, it is indeed possible for accounting profit to be positive while economic profit is negative. This scenario arises due to the difference in what is considered a cost in the computation of each type of profit. Accounting profit is total revenue minus explicit costs, which are direct, out-of-pocket expenses. It does not consider implicit costs, which are the opportunity costs of using resources in one way instead of another. These might include the entrepreneur's time or the potential earnings that could have been generated if capital had been invested elsewhere.
On the other hand, economic profit is total revenue minus total cost, including both explicit and implicit costs. Even when a business is generating a positive accounting profit, if the implicit costs are higher than this accounting profit, the economic profit may be negative. This translates to the business not being as profitable as it could be if the resources had been invested elsewhere. This difference is important because while a business pays income taxes based on its accounting profit, whether it is economically successful depends on its economic profit. The decision to continue a business would depend on positive economic profit.
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The environment and the workplace are changing due to the development of disruptive technologies that have transformed the relations of production and labor into a phenomenon called globalization. After globalization, companies started to produce in territories where labor is cheaper, opening new jobs, new markets for products and new forms of demand, such as online shopping. Understanding all this change is a complex task, but it is important for workers to understand the trends of the globalized world and to prepare to achieve the desired jobs.
b. It can change strongly held values
c. It can manipulate society against its will
d. It can change negative attitudes to positive ones e. It can make people buy things they do not want
Answer:
a. 1,090
Explanation:
Without any other information provided, the easiest way to answer this question is to make directly the calculations of income and costs. the logic behind this problem is to calculate all the income and substract the costs of production, in this particular case we have:
+Income: 3,250
-Cost of goods: 1,285
-Operating expenses: 875
Net Income: 1,090
The correct answer is C on Edge practice test. I used quizlet.
I/O psychology stands for Industrial-organizational psychology. This branch of psychology applies psychological theories and principles to organizations.The father of I/O psychology is Hugo Munsterberg.
The method of data collection that is most frequently used in i/o psychology is survey. Organizational surveys are also known as employee opinion surveys or employee attitude surveys.