Economic profits differ from accounting profits. Accounting profits ar
e usually defined as revenues minus costs, and those costs as fixed an
d variable. Economic profits enlist a third cost, opportunity costs. W
hile these costs are difficult to determine with mathematical precisio
n, they are nonetheless significant, especially for decision making in
business. They reflect social costs and benefits, tensions between in
dividual and corporate interests, and all internal and external consid
erations which enter into decision making in business. It is precisely
within opportunity cost decision making that Primeaux and Stieber sit
uate business ethics.