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An unconscious reference to one's own cultural values, experiences, and knowledge is referred to as the
Direct Labour
Labor costs associated with employees who are directly involved in the production of goods or services.
Manufacturing Overhead
Indirect factory-related costs that cannot be directly traced to a specific product, including salaries of supervisors, rent, and utilities of the factory.
Opportunity Cost
Opportunity cost represents the value of the best alternative that is foregone when a particular decision is made, indicating the cost of missed opportunities.
Alternatives
Different choices or options available to a decision-maker in a decision-making process.
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