Simple English definitions for legal terms
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Economic earnings refer to the revenue gained from labor or services, investment of capital, or assets. It is a measure of a company's profitability and financial performance.
These examples illustrate the different types of economic earnings and how they are calculated. Gross earnings are the total income earned, while net earnings are the income earned after deductions and taxes. Retained earnings are the accumulated income of a corporation, while lost earnings refer to the income that could have been earned if certain circumstances had not occurred.