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  • 14-10-2020
  • Business
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Explain the importance of profit to the economy.

Respuesta :

Аноним Аноним
  • 14-10-2020

Answer:

Explanation:

Profit is the surplus revenue after a firm has paid all its costs. ... In a capitalist economy, profit plays an important role in creating incentives for business and entrepreneurs. For an incumbent firm, the reward of higher profit will encourage them to try and cut costs and develop new products

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