ceo job description non profit Historically, the concept of income has first appeared in economics. Adam Smith, in the wealth of nations, defined income as "the amount of consumption that is not eroded by capital", and saw it as an increase in wealth. Later, most economists inherited and developed this view. 1890, ai (Alfred Marshall Maarshell) in its "the principles of economics," the Adam Smith's "wealth increase" enterprise, introduced the concept of earnings, is proposed to distinguish the entity capital and value-added benefits of economic benefits. It is not obvious in some analyses, but it is important to note that economic profits include opportunity costs. The profit of an entrepreneur (normal profit) is usually positive, but economic profit can be either positive or negative (loss). That's why the opportunity cost is included: in a completely competitive market, when marginal cost equals marginal revenue, profit maximization or loss minimization conditions arise. If the market price is lower than the total average cost, which means that the economic profit is negative, the entrepreneur needs to compare the value of the loss and the average variable cost. If the business continues to operate, the negative economic profit must not be lower than the average variable cost, otherwise the entrepreneur would rather shut down the company than continue to take the loss. According to the latest data released by the U.S. Department of Transportation, the number of driving miles (VMT) in October 2017 is 268 billion miles, up 0.8 percent year on year and 0.2 percent month-on-month. According to the data, total vehicle mileage is expected to reach 2.685 trillion miles in 2017. What happens next? Opportunities in 2018 In just three days, the yield on the 30-year Treasury bond jumped 16 basis points, the biggest gain since December 2008. The two-year - 30-year spread widened at the fastest rate since last year's U.S. election. This week the yield curve flattens out. Is it a short adjustment or a bear market start? The same is true of unconventional interventions in corporate bonds and mortgage-backed securities. Not surprisingly, the concept of central bank independence obviously help to specific financial institutions - and this time, the whole society are under unprecedented economic pressures - soon become politically toxic. Diego mentioned that miolo is a good example of how Brazilian wines are developing in China. Miolo is one of the first Brazilian wineries to enter the Chinese market. At present, they have branches in Shanghai, guangzhou and sanya. For the Chinese market, have learned to say the word "cheers" m oro wine export department manager Jim Anderson, Rodney talked about some of his views, he thinks the Chinese in red wine consumption is just rise, the huge population base market contains huge potential. "The consumer view of wine is shaping up here," he said. Our clients in China are mainly divided into two categories: one is that they don't know much about red wine, and they usually choose the cheapest one. The other is to have a certain understanding of red wine, already will choose some high-quality red wine according to its taste. There is a large population, and the consumption of red wine is just emerging, with great potential. We regard China as one of the most important overseas markets.