What is profit in your own words?

A profit is an amount of money earned when you are paid more for something than it costs you to do, obtain, or do it. The word “benefit” comes from the Latin noun profectus, which means “progress”, and from the verb proficere, which means “to advance”. Profit is the amount of money a person (usually a company) earns. This is calculated by subtracting the amount of money they have spent (spent) from the amount of money they have contributed (income).

Karl Marx, for example, argued that profits come from the surplus of labor extracted from workers by business owners. Fifty years ago, Milton Friedman proclaimed in the New York Times magazine that the social responsibility of companies is to increase their profits. Modern thinkers suggest that profits outweigh the risk that entrepreneurs take when starting a business. Whether it's a lemonade stand or a publicly traded multinational company, the main objective of any business is to make money, so business performance is based on profitability, in its various forms.

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