An Example of an Implicit Cost Is

question 257

Multiple Choice

An example of an implicit cost is

• A) payment of a salary to a CEO of a company.
• B) a business using a building owned by the business owner.
• C) a payment to a resource owner.
• D) the payment of interest on a bond.

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Definitions:

Ichak Adizes

An international consultant and scholar known for his work on management and leadership, specifically the Adizes Methodology for organizational transformation and lifecycle.

Embrace Problems

The mindset of viewing challenges and difficulties as opportunities for growth, learning, and innovation rather than obstacles to be avoided.

Surprise

A sudden and often unexpected event that necessitates an immediate and adaptative response from the affected parties.

Inertia

In physics, the tendency of an object to resist any change in its motion, including a change in speed or direction; in a figurative sense, a resistance to change or action.