Your Relative Success in Recalling a Dozen Different Names a Week

question 1

Multiple Choice

Your relative success in recalling a dozen different names a week after you heard them listed in order is likely to illustrate

• A) implicit memory.
• B) a recency effect.
• C) iconic memory.
• D) a primacy effect.

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Definitions:

Sales

The activity or business of selling goods or services, generating revenue for companies.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own use rather than selling those resources.

Explicit Costs

Direct, out-of-pocket payments for resources employed by firms for production, such as wages or rent.

Accounting Profit

The net income a company reports on the financial statements, calculated by subtracting total expenses from total revenues.