USA National Standards for Concept "Profit"
National Standard Number: 2
Effective decision making requires comparing the additional costs of alternatives with the additional benefits. Most choices involve doing a little more or a little less of something: few choices are "all or nothing" decisions.
Online lessons on US Standard 2 from the National Council on Economic Education Website.
National Standard Number: 14
Entrepreneurs are people who take the risks of organizing productive resources to make goods and services. Profit is an important incentive that leads entrepreneurs to accept the risks of business failure.
Online lessons on US Standard 14 from the National Council on Economic Education Website.
