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What is the difference between accounting and economic profit?

Accounting profit is revenues minus explicit costs, which include wages and machine rental among other things. But there are also implicit costs, or opportunity costs. These can arise because the factors ...

JA
4597 Views

What are some advantages and disadvantages of the 'first-past-the-post' electoral system?

Under first-past-the-post (FPTP), as practiced in the UK, each constituency elects one MP by what is called plurality voting. This means, more or less, that the candidate with the most votes wins. One adv...

JA
13758 Views

What is the logical problem of evil?

The logical problem of evil is usually cast as an argument for the logical inconsistency of a number of claims that traditional theism holds. These include the claims: 1) God exists 2) God is omn...

JA
20371 Views

Was Lenin's foreign policy a success of failure?

In order to answer this in an essay format, the student has to first critically analyse the question. What is meant by success and by failure? A success or a failure in who's eyes:...

PK
Answered by Paula K. History tutor
9871 Views

What is the difference between an ectotherm and an endotherm?

Ectotherms, including reptiles and amphibians, are organisms that don't possess the ability to generate sufficient heat to keep themselves warm. As such, they are dependent on environmental sources of ...

ES
Answered by Ed S. Biology tutor
53574 Views

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