Implicit Costs Are

question 165

Multiple Choice

Implicit costs are

• A) the opportunity cost of the means of production.
• B) always paid out of pocket.
• C) never greater than explicit costs.
• D) always greater than explicit costs.
• E) not measured in terms of dollars.

Understand the various roles and purposes of stakeholder groups in an organization.

Identify and describe the stages used in analyzing the external environment.

Assess the potential of HR functions becoming managed electronically.

Comprehend the process and implications of conducting an environmental scan for an organization.