The Affectivity of Individuals Can Impact Group Affect Either Positively

question 73

True/False

The affectivity of individuals can impact group affect either positively or negatively.

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Definitions:

Implicit Costs

The firm’s opportunity costs of using resources owned or provided by the owner.

Explicit Costs

Dollar costs incurred by business firms, such as wages, rent, and interest.

Implicit Costs

The opportunity costs that are not directly incurred but represent the loss of alternative benefits when choosing one option over another.

Explicit Costs

Direct, out-of-pocket payments for goods and services required to run a business.