Types of Profit- Micro Topic 3.4

Types of Profit- Micro Topic 3.4

Assessment

Interactive Video

Business

11th Grade - University

Hard

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Jacob Clifford explains the concepts of profit in microeconomics, using an example of Kevin's ice cream business. He distinguishes between explicit and implicit costs, and how they affect accounting and economic profit. The video emphasizes the importance of considering opportunity costs in decision-making and concludes with a pop quiz.

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What new insight or understanding did you gain from this video?

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