Implicit Costs Are

question 436

Multiple Choice

Implicit costs are

• A)the same as economic costs.
• B)comprised entirely of actual expenses paid by the firm for its inputs.
• C)opportunity costs of self-employed resources.
• D)always greater than accounting costs.

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Definitions:

Levels-Of-Processing Model

The memory model that describes maintenance rehearsal as “shallow” processing and elaborative rehearsal as “deep” processing.

Deep Processing

A method of learning in which information is analyzed in a meaningful way, leading to better recall than through shallow processing.

Remembered

Pertaining to having memory or recollection of someone or something

Deep Processing

involves the active manipulation of information to make it meaningful, thus improving its understanding and facilitating its retention.