Economics A-Level

Profit

What Profit means in Economics A-Level, as defined for AQA.

Definition of Profit

Check what you remember

Read the wording for your board, then hide it and explain Profit in your own words. Rough notes are fine. This is a self-check, with no mark or grade.

Reference: AQA

The difference between total revenue and total costs, and the fundamental financial reward for risk-taking in business.

AQA · Profit

Topics that use Profit

Profit (AQA A-Level)

Related terms

Economic profit
Normal profit
Total costs
Total revenue
Abnormal (supernormal) profit

Using Profit in the exam

Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.

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All Economics A-Level terms