Categories Are "Fuzzy" Because

question 81

Multiple Choice

Categories are "fuzzy" because:

• A)they resist easy definitions or clear boundaries.
• B)psychologically, they elicit warm feelings in us.
• C)their memory representations are not stored in the cerebral cortex.
• D)we associated them with strong sensory responses.

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Definitions:

Implicit Costs

The opportunity costs associated with a company's use of resources that are not directly paid for or billed.

Implicit Cost

The opportunity costs that are not directly paid or incurred but represent the loss of alternative benefits when resources are used in a particular way.

Capital

A resource, such as equipment or buildings, used to produce goods and services.

Implicit Costs

The opportunity costs that are not directly paid for or visibly incurred in financial transactions but represent real costs to economic actors.