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'''Profit''' is the excess of total revenue over total cost for a [[business]].
'''Profit''' is the excess of total revenue over total cost for a [[business]]. Alternatively, it is the return to anyone or anything that engages in an [[entrepreneurial]] activity.
There are different forms of profit in economics:
*Economic Profit - achieved when the [[Total Cost]] (TC) subtracted from Total Revenue (TR) yields a positive gain.
*Normal Profit - a firm is making normal profit when it makes enough revenue to just cover its day-to-day operating costs. Therefore, it is sometimes viewed as a cost.
[[category:accounting]]
[[category:accounting]]
[[category:economics]]
[[category:economics]]