Profit
The difference between the purchase price and the costs of bringing to market
Real World Example
During the settlement of North America, profit was a key motivation for many colonists and companies, such as the Virginia Company, which sought to gain wealth from resources like tobacco and fur. The concept of profit was crucial because it encouraged investment and exploration, helping to finance colonies and attract settlers looking for economic opportunities. This drive for profit addressed the need for economic growth and expansion, as European countries competed for global dominance. Today, profit remains important as it drives businesses to innovate and provide goods and services, impacting our daily lives. For example, a local bakery aiming to make a profit will create delicious treats, provide jobs, and contribute to the community's economy, showing how profit can affect you directly through the availability of products and employment opportunities.
