Implicit Cost Is a

question 134

Multiple Choice

Implicit cost is a

• A)cost that is incurred when a monetary payment is made.
• B)cost incurred in the past that cannot be changed by current decisions and therefore cannot be recovered.
• C)cost that represents the value of resources used in production for which no monetary payment is made.
• D)sunk cost.

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Definitions:

Parent-Country Nationals

Individuals who are citizens of the country where a multinational company has its headquarters.

Cultural Norms

The shared expectations and rules that guide behavior of people within social groups, including organizations, influencing how individuals act and interact.

International HR Planning

The strategic process of forecasting and meeting the human resources needs of an organization on a global scale.

Existing HR System

The current set of processes, practices, and technologies used by an organization to manage its human resources.