ECONOMIC PROFITS Definition

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ECONOMIC PROFITS is the difference between the total revenue and the total opportunity costs.

Learn new Accounting Terms

AAA is American Accounting Association, Association of Accounting Administrators, or see ACCUMULATED ADJUSTMENT ACCOUNT.

AUCTION MARKET is a trading system in which buyers enter competitive bids and sellers enter competitive offers simultaneously. This, as opposed to the over-the-counter market, where trades are negotiated. Examples: the NYSE and the AMEX. It is sometimes called double auction market.

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