This document discusses the difference between normal profits and economic profits from an economist's perspective. Normal profits account for both explicit costs like wages and utilities as well as implicit opportunity costs of forgone earnings. Economic profits are any profits above normal profits. The example shows that while accounting profits were $57,000, when implicit opportunity costs of $28,000 are considered, economic profits were only $29,000, indicating the business was performing well but not extraordinarily. Positive economic profits signal other entrepreneurs may enter the market, while negative economic profits signal entrepreneurs may exit the industry.
Test Bank for Microeconomics 20th Edition by McConnellriven03
Test Bank for Microeconomics 20th Edition by McConnell
Download: https://goo.gl/MmRaBa
microeconomics principles problems and policies 21st edition
mcconnell brue flynn economics 20th edition pdf
microeconomics 20th edition by mcconnell brue and flynn mcgraw hill irwin
macroeconomics principles problems and policies 20th edition pdf
Test Bank for Microeconomics 20th Edition by McConnellriven03
Test Bank for Microeconomics 20th Edition by McConnell
Download: https://goo.gl/MmRaBa
microeconomics principles problems and policies 21st edition
mcconnell brue flynn economics 20th edition pdf
microeconomics 20th edition by mcconnell brue and flynn mcgraw hill irwin
macroeconomics principles problems and policies 20th edition pdf
Download these notes and other resources at https://WeAreQurious.com/Economics
Teaching, learning and revision notes for Profit Maximisation in A-Level Economics and IB Economics for all exam boards (Edexcel, AQA, OCR, Eduqas, WJEC).
EdExcel Paper 3 Synoptic Essay (25 Marker) on Carbon Taxestutor2u
Here is a revision webinar on building an answer for the synoptic paper. A carbon tax is an environmental tax on producers based on each tonne of CO2 emitted from supplying goods and services. Some economists, including Joseph Stiglitz and Nicholas Stern, say taxes of $100 per tonne could be needed by 2030 which would mean a carbon price of around £75 – this is over ten times higher than the current carbon emissions price in the ETS and would therefore represent a significant government intervention which would have micro and macroeconomic effects.
A great paper penned by my colleague Ian Smith that addresses common concerns of business owners with respect to a sale of their business. If you are currently considering your options, or have a client that is currently considering an exit, please feel free to reach out to us directly and we'd be happy to have a chat.
Download these notes and other resources at https://WeAreQurious.com/Economics
Teaching, learning and revision notes for Profit Maximisation in A-Level Economics and IB Economics for all exam boards (Edexcel, AQA, OCR, Eduqas, WJEC).
EdExcel Paper 3 Synoptic Essay (25 Marker) on Carbon Taxestutor2u
Here is a revision webinar on building an answer for the synoptic paper. A carbon tax is an environmental tax on producers based on each tonne of CO2 emitted from supplying goods and services. Some economists, including Joseph Stiglitz and Nicholas Stern, say taxes of $100 per tonne could be needed by 2030 which would mean a carbon price of around £75 – this is over ten times higher than the current carbon emissions price in the ETS and would therefore represent a significant government intervention which would have micro and macroeconomic effects.
A great paper penned by my colleague Ian Smith that addresses common concerns of business owners with respect to a sale of their business. If you are currently considering your options, or have a client that is currently considering an exit, please feel free to reach out to us directly and we'd be happy to have a chat.
Stepping into a role which requires business finance knowledge? Here is a short guide offering advice, tools, and expertise that you will need to equip yourself with to be successful. Check out our Diploma in Business Finance for more.
BOOKKEEPING TO FIN. STATEMENTS TO ACCOUNTING || THE FUNDAMENTAL PROCESSLekshmi Pillai
Discussing the fundamental process that takes place in an accounts dept.
The presentation clarifies:
*what bookkeeping is and an overview of the bookkeeping process
*Overview of Fin. Statements
*How using Fin. Statements leads to different types of accounting
We know you’re a genius. You’re building a phenomenal company, one that may change the world, but you never took or don’t remember what you learned in that Accounting Class.
Often entrepreneurs drown in paperwork and receipts as they try to flush our their business plan. It’s important to keep your books straight from the beginning and keep track of the most important thing: the money. In this hands on workshop, we will take you back to basics, covering the fundamental metrics and financial accounting principles that will make or break your startup.
Expert:
Dan Allred – Silicon Valley Bank
www.thecapitalnetwork.org
Financial Projections are key in all aspects of the fundraising process: Pitching, Valuation, Due Diligence, and in the long term planning of your company. Join our experts in an overview discussion of financial projections and learn the key metrics that will get investors to notice you, as well as those that will get you rejected. With the expert advice of serial Startup CFOs and VC Analysts we’ll walk you though the process of what you need to know. If you have no or little idea where to begin with your financial projections, this program is for you.
9.14 TCN Calculate Financial Projections for Investment PresentationsThe Capital Network
Financial Projections are key in all aspects of the fundraising process: Pitching, Valuation, Due Diligence, and in the long term planning of your company. Join our experts in an overview discussion of financial projections and learn the key metrics that will get investors to notice you, as well as those that will get you rejected. With the expert advice of serial Startup CFOs and VC Analysts we’ll walk you though the process of what you need to know. If you have no or little idea where to begin with your financial projections, this program is for you.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
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If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
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2. NORMAL PROFITS
• Two components to Normal Profits
– Explicit Costs---Tangible costs like rent, wages, utilities, insurance,
freight…
• These are also known as Accounting Costs
– Implicit Costs---These are somewhat intangibles costs---They are the
entrepreneurs OPPORTUNITY COSTS
• How much could the entrepreneur earn doing something else AND how much
could he “rent out” his capital for if he was not using it.
3. NORMAL PROFITS
• Accountants care about EXPLICIT COSTS.
Economists care out EPLICIT AND IMPLICIT
COSTS because it shows if society is properly
allocating its resources. If the entrepreneur
and/or his “capital” is more efficient at doing
something else then he/she should engage in
the activity that they have the “Comparative
Advantage” in.
4. NORMAL PROFITS
• So…If in our example the entrepreneur is earning
NORMAL PROFITS in the business he/she is in
NOW, then their Opportunity Costs are being
met (making the same income they could be
making doing something else).
• If they can RENT out their CAPITAL for the SAME
amount they are earning now then they meeting
their OPPORTUNITY COSTS.
• In other words they are doing the best they can
with their resources.
5. Normal vs Economic Profit
• Example:
• Suppose you are earning $22,000 a year as a sales rep. for a T-Shirt
manufacturer.
• You decide you want to open a retail store to seel t-shirts.
• You invest $20,000 of savings that have been earning you $1,000
per year in interest (5%).
• You decide to open the store in a small building you ALREADY own
and are renting it to someone else for $5,000 per year.
• You hire 1 clerk to help you run the store and you pay her $18,000
per year salary.
• Fast forward 1 year---you have been in business for 1 year…
6. Normal vs Economic Profit
Total Sales REVENUE $120,000
– Cost of T-shirts $40,000
– Clerks Salary $18,000
– Utilities $5,000
Total EXPLICIT COSTS - $63,000
“Accounting Profit” $57,000
• LOOKS GOOD…Doesn’t it???
7. Normal vs Economic Profit
• Remember: Economists care about costs that
are NOT accounting costs
– IMPLICIT COSTS---Opportunity Costs
1. The income you gave up to start the business- $22,000
2. $1,000 in interest you were earning on the $20,000 you
had in savings
3. The $5,000 in rent you were earning renting the building
to someone else
TOTAL IMPLICIT COSTS ARE: $28,000!!!
8. Normal vs Economic Profit
Total Sales REVENUE $120,000
– Cost of T-shirts $40,000
– Clerks Salary $18,000
– Utilities $5,000
Total EXPLICIT COSTS - $63,000
“Accounting Profit” $57,000
Total IMPLICIT COSTS - $28,000
ECONOMIC PROFIT: $29,000
9. Normal vs Economic Profit
• IMPORTANT POINT!!!!
• If in our example our ECONOMIC PROFIT had
equaled $0, then the firm would have been
“Breaking-Even”. It would have been making
its EXPLICIT + IMPLICIT COSTS, or NORMAL
PROFITS!!. This person could not have done
any better with their time or capital.
10. Normal vs Economic Profit
• IMPORTANT POINT!!!!
• In our example this person IS making in EXCESS of their
NORMAL PROFITS.
• These profits are called ECONOMIC PROFITS (PURE
PROFIT)
• Profits OVER AND ABOVE the EXPLICIT + IMPLICIT COSTS.
• The presence of ECONOMIC PROFITS in an industry are a
signal to other entrepreneurs that they too could be
doing better than they are doing currently with their time
and capital (resources).
There may be ENTRY into this market:
INCREASED SUPPLY
11. Normal vs Economic Profit
• If in our example the EXPLICIT PLUS IMPLICIT
COSTS were GREATER than the ACCOUNTING
COSTS, then ECONOMIC PROFITS would be
NEGATIVE
• This is a signal (perhaps) that the
entrepreneur could do better with their time
and resources doing something else.
There may be EXIT from this industry:
DECREASED SUPPLY