Explicit Costs

question 90

Multiple Choice

Explicit costs

• A)Include only payments to labor.
• B)Are the sum of actual monetary payments made for resources used to produce a good.
• C)Include the market value of all resources used to produce a good.

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Definitions:

Deviant

Pertaining to behavior or actions that deviate from societal norms or expectations, often leading to social stigma or sanctions.

Cash Register Honesty

The principle or practice of being truthful and accurate in the handling of cash transactions and the management of cash registers.

Self-fulfilling Prophecies

A belief or expectation that an individual holds about a future event that manifests because the individual holds it.

Robert Merton

A prominent American sociologist who contributed to the sociology of science and developed the theory of deviance, including the concept of self-fulfilling prophecy.