Explicit Costs Are Called _____ Costs, and Implicit Costs Are

question 33

Multiple Choice

Explicit costs are called _____ costs, and implicit costs are _____ costs.

• A) sunk; opportunity
• B) opportunity; out-of-pocket
• C) out-of-pocket; opportunity
• D) opportunity; sunk

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Definitions:

Benevolence

The quality of being well-meaning and kindly, often characterized by acts of generosity and compassion towards others.

Autonomous Morality

The stage of moral development in which individuals recognize that moral rules are created by people and that individuals can question or challenge societal norms based on personal principles of justice or fairness.

Heteronomous Morality

Refers to the stage of moral development in children where rules are perceived as fixed and unchangeable, often enforced by authority figures.

Preconventional Moral Reasoning

The first level of Kohlberg's stages of moral development, where individuals' moral reasoning is based on personal interests and the consequences of their actions.