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NET REVENUE: A common term for profit, as the difference between total revenue and total cost. When used in the real world of business wheeling and dealing, this notion of net revenue general refers to accounting profit rather than economic profit. The "net" aspect of net revenue indicates that some (that something being cost) is deducted from total or "gross" revenue. Other common terms used in this same context are net income and net earnings.
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ECONOMIC PROFIT The difference between the total opportunity cost of production and the total revenue received by a firm. Economic profit is what remains after ALL opportunity cost associated with production (including a normal profit) is deducted from the revenue generated by the production. Economic profit is one of three alternative notions of profit. The other two are accounting profit and normal profit.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time searching for a specialty store hoping to buy either several orange mixing bowls or clothing for your pet dog. Be on the lookout for attractive cable television service repair people.
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Lombard Street is London's equivalent of New York's Wall Street.
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"Most battles are won before they are ever fought." -- General George Patton
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