A Cost Incurred in the Production of a Good or Service

question 107

Multiple Choice

A cost incurred in the production of a good or service and for which the firm does not need to make a direct monetary payment,is referred to as ________ cost.

• A) a minimized
• B) a maximized
• C) an explicit
• D) an implicit
• E) an invisible

---

Definitions:

Political Exercise

The activities involved in acquiring and using power in a workplace or organizational setting to achieve one's goals.

Relationship Conflict

The tension, disagreement, or incompatibility between individuals regarding their relationship, not necessarily focused on tasks or goals.

Conflict Management Strategy

A plan of action designed to address and resolve a dispute or conflict in a positive or constructive manner.

Process Conflict

Disagreements among group members about the logistics and delegation of tasks in achieving a common goal.