What Do Wages Paid to Factory Workers, Interest Paid on a Bank

question 350

Multiple Choice

What do wages paid to factory workers, interest paid on a bank loan, forgone interest, and the purchase of component parts have in common?

• A)None are either implicit or explicit costs.
• B)All are opportunity costs.
• C)All are implicit costs.
• D)All are explicit costs.

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Definitions:

Path-goal Theory

A leadership theory that suggests a leader's style is contingent upon the satisfaction, motivation, and performance of their subordinates.

Motivated

Having the drive, enthusiasm, or eagerness to complete tasks, pursue goals, or engage in activities.

Mundane Task Characteristic

Features of a task that are considered routine, boring, or repetitive, often lacking intrinsic motivation.

Unclear Task Characteristic

Pertains to an assignment or job duty that lacks clear definition, objectives, or processes, often leading to confusion and inefficiency among those involved.