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Well, you have to remember, if there is no profit there is no business. Businesses must make a profit in order to survive. In this sense profit is good. That being said, businesses should show social responsibility, and should be held accountable for what they sell and how they sell it. In this sense, profit made through means that hurt society or the individuals within a society (to include employees as well as customers) should be noted as not good.
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Is economic profit always less than accounting profit?
No economic profit is not always less than accounting profit; However, if accounting profit is less than economic profit the business would exit the industry.
What is profit maximization of corporation?
Profit Maximization is a process that companies undergo to determine the best output and price levels in order to maximize its return. Companies usually adjust production costs, sale prices, and output levels as a way of reaching its profit goal. Profit maximization is a good thing for a company, but can be a bad thing for consumers if the company starts to use cheaper products or decides to raise prices.
What is the difference between non-profit and not-for-profit?
There is not difference; they mean the same thing.
What is the meaning of business ethics?
There is no such thing as "Business ethics." It is a contradiction in terms. Ethics is a moral consideration of good and evil, and the only good and evil that a business comprehends is profit and loss.
Which is most accurately explains why commodity money has value?
A commodity is a good that is worth money, there is no such thing as "commodity money". So if you have a good that was purchased from a vendor that is by definition a commodity, its value is whatever you paid for it, my suggestion is a mark up and that is its profit.
