EconomicsByComics by Po-Wei Lee

Profit & Cost

Coming soon

Introduction: Cost is a term used frequently to refer to the monetary value of the products and services that manufacturers and consumers buy. Cost can be defined in a fundamental economic sense as the measure of the alternative options passed up when choosing one good or activity over another. The term "opportunity cost" is frequently used to describe this essential expenditure. This part tells you how to calculate different types of costs and profits. We will focus on the “costs” part and also talk about the relationships between costs and profits.