Nature Of Profits

Basic Problems Of An Economic And Working Of Price Mechanism

Prof. Taussig, in the late 19th century remarked that “Profit is a mixed and vexed income. lt 1s mixed in the sense that it is made up of a number of sources and vexed because there exists a lot of difference regarding the definition, constituents and determinants of profit. The classical economists regarded profit as the reward of capitalists who supplied capital and owned the busines