Free Enterprise in Three Minutes Podcast with Ray Keating

Episode #29: What Are Economic Costs and Profits?

February 28, 2019 Season 1 Episode 29
Free Enterprise in Three Minutes Podcast with Ray Keating
Episode #29: What Are Economic Costs and Profits?
Chapters
Free Enterprise in Three Minutes Podcast with Ray Keating
Episode #29: What Are Economic Costs and Profits?
Feb 28, 2019 Season 1 Episode 29
Ray Keating
Ray Keating explains what “economic costs” and “economic profits” are.
Show Notes

Ray Keating explains the difference between what people usually think of when it comes to “costs” and “profits,” and what economists mean when they talk about “economic costs” and “economic profits.” They key is opportunity costs.



×

Listen to this podcast on