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Profit Definition, Usage & Common Mistakes (2 meaning)

Meaning 1:financial gain (profit)

profit 🔊
/ˈprɑːfɪt/
n./v.
The money you make after paying all the costs of running a business or doing something.
Profit illustrated by a cash exchange in a bakery, showing financial gain.
financial gain 🔊
/fəˈnænʃəl ɡeɪn/
n./v.
The monetary surplus remaining after all expenses and costs have been subtracted from total revenue.
📁 Category:Social Economy 🔖 Level:Beginner

📘 Details & Usage

📖 Root Explanation
From Latin ‘profectus’ (progress) via Old French ‘prufit’.
💡 Mnemonic
PROFIT: Proper Return On Funds Invested Today.
📖 Example
The small bakery profited from selling delicious cakes during the holiday season. 🔊 The small bakery profited from selling delicious cakes during the holiday season.
🔗 Collocations
net profit – The final profit after all expenses, taxes, and costs have been deducted.
profit margin – The percentage of revenue that becomes profit.
make a profit – To earn more money than is spent.
🔄 Synonyms
earnings (n.) – Money obtained in return for labor or services, or from investments.
gain (n.) – An increase in wealth or resources.
surplus (n.) – An amount of something left over when requirements have been met, especially money.
🚫 Antonyms
loss (n.) – A reduction in value or amount, especially financially.
deficit (n.) – The amount by which something, especially money, is too small.
🌱 Derivatives
profitable (adj.) – Yielding profit or financial gain.
profitably (adv.) – In a way that yields profit or gain.
profiteer (n.) – A person who makes an excessive profit, often by unethical means.
📖 Cultural Story
Originates from Latin ‘profectus’ meaning ‘progress, advance’. Entered English via Old French, evolving from general ‘advancement’ to specifically denote financial surplus in business contexts.

Meaning 2:benefit or advantage (profit)

profit 🔊
/ˈprɑːfɪt/
n./v.
To get something useful or helpful from an activity or experience; the benefit or advantage you get.
Profit as benefit shown by a group gaining from a book club discussion.
benefit or advantage 🔊
/ˈbenɪfɪt ɔːr ədˈvɑːntɪdʒ/
n./v.
To gain a useful or positive outcome from an activity, situation, or experience.
📁 Category:Behaviors & Actions 🔖 Level:Beginner

📘 Details & Usage

📖 Example
You can profit greatly from reading books and joining discussions at the book club. 🔊 You can profit greatly from reading books and joining discussions at the book club.
🔗 Collocations
profit from – To gain an advantage or benefit from a particular experience or situation.
to one's profit – Resulting in a benefit or advantage for someone.
🔄 Synonyms
benefit (n./v.) – An advantage or profit gained from something.
advantage (n.) – A condition or circumstance that puts one in a favorable position.
gain (v.) – To obtain or secure something useful, valuable, or desired.
🚫 Antonyms
disadvantage (n.) – An unfavorable condition or circumstance.
drawback (n.) – A feature that renders something less acceptable or desirable.
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