A Firm's Opportunity Costs of Using Resources Provided by the Firm's

question 111

Multiple Choice

A firm's opportunity costs of using resources provided by the firm's owners are called

• A)sunk costs
• B)fixed costs
• C)explicit costs
• D)implicit costs
• E)entrepreneurial costs

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Definitions:

Nomothetic Goals

Pertains to objectives that seek general laws and principles about behaviors or phenomena, aiming for universal insights.

Idiographic Goals

Goals that are unique to an individual's own interests, values, and aspirations.

Idiographic Goals

Unique, personal goals that are specific to an individual and differ from person to person.

Judgment Goals

The objectives or outcomes that individuals aim to achieve or satisfy through their evaluative processes.