The profit an owner receives is equivalent to the rent received for her entrepreneurial services.

Question

Quizplus · Accepted Answer

Profit is the financial gain a business owner receives from their business operations after all expenses are paid, including the costs of their entrepreneurial services, whereas rent for entrepreneurial services would specifically refer to the compensation for the use of their skills, knowledge, and abilities in managing the business.

The Profit an Owner Receives Is Equivalent to the Rent