Which of these are the major sources of economic profit?

Question

Quizplus · Accepted Answer

Uncertainty and entrepreneurial alertness are key sources of economic profit as they enable firms to identify and exploit market opportunities that others have overlooked. Barriers to entry can also create economic profit by limiting competition and allowing firms to charge higher prices. Competition, perfect information, elasticity of market demand, size of firm, economies of scale, and freedom from unionism may all have an impact on profits, but they are not considered major sources of economic profit. Externalities and inflation may also affect profits, but they are not sources of economic profit.

Which of These Are the Major Sources of Economic Profit