economic loss

economic loss definition - business

economic loss

  1. Current and future expenses expected to be incurred as a result of an injury or death. Economic loss for a person hit by a vehicle includes lost wages, legal fees, medical expenses, attorney fees, and so forth.
  2. The amount by which total expenses, including opportunity cost, exceed total revenues.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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