Implicit Costs Are

question 27

Multiple Choice

Implicit costs are:

• A) the opportunity costs of using resources owned by the entrepreneur in his/her own business.
• B) payments the business owner must make on borrowed funds.
• C) costs which vary as the level of output varies.
• D) those payments the business owner makes in cash.
• E) the payments the business owner makes for public relations, such as donations to charity.

---

Definitions:

Conditions Attached

Specific requirements or stipulations imposed as part of an agreement or offer.

Carl Rogers

An influential American psychologist who founded the humanistic approach to psychology.

Correct Behavior

Actions or responses that are deemed appropriate or acceptable within a given context or society.

Fully Functioning Person

A concept in humanistic psychology referring to an individual who is living in alignment with their true self, open to experiences, and continually growing.