Profits are the prize for entrepreneurship or organization. Risk-taking and uncertainty-bearing are the main functions of an entrepreneur. Therefore we might consider profit as the reward for the above functions.Gross Profit:
Usually when we speak of profit, we refer to the difference among the net expenses of generating a good and the net revenue from it. However this is gross profit.Gross Profit and Net Profit:
Gross profit comprises besides net profit other things like rent of land, the interest on capital, wages of management and some additional income on account of the monopoly place of a firm. It also comprises some chance gains (i.e., windfall profits). While considering total profit ‘or’ pure profit, we have to remove all the above things from gross profit. The net profit is the reward for risk-taking and uncertainty-bearing that are the main functions of an entrepreneur. The monopolist is the single seller of a commodity for which there are no replacements. As he controls the supply, it is possible for him to make big profits. And this is termed as monopoly profit.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Marginal Productivity help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Marginal Productivity, project ideas and tutorials. We provide email based Marginal Productivity help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Marginal Productivity. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Marginal Productivity. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!