Welcome to a new semester of Economics. We are currently studying the basics of the Free Enterprise System. One of the most important characteristics of a free enterprise system is the profit incentive which we have discussed in class. In our class discussions we did not get into the difference between accounting profit and economic profit. Therefore, I would like to offer you an extra credit enrichment opportunity. Click on the link below to watch the following video and post a comment summarizing what you learned about this topic for up to 5 extra credit points.
Economic Profit vs. Accounting Profit
