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Which structure is a logical design that controls the order in which a set of statements executes?
Opportunity Costs
The potential benefits missed out on when choosing one alternative over another.
Explicit Costs
Direct, out-of-pocket payments for goods or services that are made by a business as part of its operations.
Total Economic Costs
The sum of all costs associated with the production of a good or service, including both explicit (direct) costs and implicit (indirect or opportunity) costs.
Implicit Cost
The opportunity costs of using resources that a firm already owns to make its products, as opposed to renting, selling, or using them in another way.
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