Question

2. economists concept of profit is of pure profit called economics profit or just profit. Explain.

Answer 1

Answer:

In simple terms, profit refers to an income that flows to investors. ... In economic terms, profit is defined as a reward received by an entrepreneur by combining all the factors of production to serve the needs of individuals in the economy. Profit in economics is termed as pure profit or economic profit or just profit.

Answer 2

NANBA...

In simple terms, profit refers to an income that flows to investors.In economic terms, profit is defined as a reward received by an entrepreneur by combining all the factors of production to serve the needs of individuals in the economy. Profit in economics is termed as pure profit or economic profit or just profit.