Which of the Following Describes Workplace Strategies

question 22

Multiple Choice

Which of the following describes workplace strategies?

• A) their effectiveness is rarely measured
• B) most programs focus on primary rather than secondary prevention
• C) they are widespread
• D) all of these

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Definitions:

Implicit Costs

The opportunity costs of using resources that a firm already owns, representing the income the firm foregoes by using those resources internally rather than renting or selling them.

Explicit Costs

Explicit costs are direct, out-of-pocket payments for resources or services needed for production, such as wages, rent, and materials; they're easily quantifiable and recorded.

Explicit Costs

Direct, out-of-pocket expenses incurred in conducting a business activity or making a decision.

Accounting Profits

The financial gains of a company calculated by subtracting total expenses from total revenues according to standard accounting practices.