A(n) IM Chat Site, Such as FuzzFizz, Digg, and Newsvine

question 64

True/False

A(n) IM chat site, such as FuzzFizz, Digg, and Newsvine.com allows users to share their Web page favorites, bookmarks, and tags with others.

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Definitions:

Explicit Costs

Direct, out-of-pocket payments for expenses incurred in conducting business, such as rent, salaries, and materials.

Economic Profits

The disparity between the amount a business earns in total and the sum of its outright and inferred expenses.

Explicit Costs

Direct, out-of-pocket payments for goods and services that are used in the production of other goods and services.

Implicit Costs

The opportunity costs of using resources that a firm already owns, not involving direct monetary payment.