Define Tangible and Intangible Benefits and Costs

question 10

Essay

Define tangible and intangible benefits and costs.What is the difference between the two?

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Definitions:

Plastic Straws

Thin tubes made of plastic intended for transferring liquids from a container to the mouth of a person; associated with environmental concerns.

Raw Materials

The basic substances from which products are manufactured or made.

Vehicle Life Cycle Cost

The total cost associated with owning and operating a vehicle over its entire lifespan, including purchase price, maintenance, fuel, and disposal costs.

Operating Cost

The expenses associated with the day-to-day running of a business or system, including costs for materials, labor, and overhead.