If You Want to Make a Good First Impression

question 55

Multiple Choice

If you want to make a good first impression,

• A) bring gifts for all of the adults that work in your classroom.
• B) don't ask any questions on your first day.
• C) be aware of your body language and what you wear.
• D) wait for parents to introduce themselves to you and then engage in a friendly conversation with them.
• E) All of these answers are correct.

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Definitions:

Implicit Costs

The opportunity costs of using resources owned by the firm for its own use, without any direct payment made.

Opportunity Cost

The worth of the best alternative given up to make a choice.

Accounting Profit

The financial gain calculated by subtracting total expenses from total revenues, according to standard accounting principles.

Economic Profit

The profit from undertaking an activity after subtracting both the explicit and implicit costs associated with that activity.