Examlex
What are the new platforms for advertising? What are the new strategies that are being used to advertise on these platforms?
Implicit Costs
The opportunity costs of using resources owned by the firm for its own production instead of selling or renting them to others.
Interest Rate
The price, calculated as a percentage of the amount borrowed, that a lender charges a borrower for the use of their savings for one year.
Salary
A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee.
Explicit Cost
Direct payment made to others in the course of running a business, such as wages, rent, and materials.
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