Galvanic Corrosion Occurs Only When Two Different Metals Contact Each

question 25

True/False

Galvanic corrosion occurs only when two different metals contact each other in the presence of an appropriate electrolyte.

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Definitions:

Implicit Costs

The opportunity costs of using resources owned by the firm for its own operations, without direct payment but with foregone opportunities.

Explicit Costs

Direct, out-of-pocket payments for wages, rent, and materials, among others, involved in the production of goods or services.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision or choice.

Implicit Costs

Indirect, non-out-of-pocket expenses which represent the opportunity costs of using resources owned by the firm for its operations.