Helena Is a Fourteen-Year-Old Who Uses Social Media Very Frequently

question 14

Multiple Choice

Helena is a fourteen-year-old who uses social media very frequently. She is very concerned about her popularity and spends a lot of time thinking about her online relationships. Helena is relatively likely to

• A) exhibit a high level of fear of missing out.
• B) have her online friendships displace her in-person friendships.
• C) engage in sexting.
• D) develop social anxiety.

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Definitions:

Implicit Cost

Costs that represent the loss of potential gain from using assets in an alternative option rather than in their current use.

Implicit Costs

The opportunity costs of resources that are owned by the firm and used in production, not involving direct payment of money but affecting the firm's profitability.

Explicit Costs

Direct payments made to others in the course of running a business, such as wages, rent, and materials.

Accounting Profits

The net earnings of a company as calculated by subtracting total expenses from gross revenue, according to accepted accounting principles.