accounting profit
The total revenue minus costs, properly chargeable against goods sold.
explicit cost
A direct payment made to others in the course of running a business, such as wages, rent, and materials, as opposed to implicit costs, which are those where no actual payment is made.
implicit cost
The opportunity cost equal to what a firm must give up in order to use factors which it neither purchases nor hires.
economic profit
The difference between the total revenue received by the firm from its sales and the total opportunity costs of all the resources used by the firm.