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Charles Mott works for a company called VeriSign that acts as a trusted third party to verify information.One of Charles' largest clients is CheckMd,which holds and authenticates customer reviews of doctors and dentists online and having a third party validating the reviews is critical to CheckMd's success.What type of authentication technique is VeriSign providing for CheckMD?
Implicit Costs
The opportunity costs that arise from using resources that could have been employed in an alternative use, not directly paid in a financial form.
Normal Profit
The minimum profit necessary for a company to remain in business, equal to the opportunity cost of capital and entrepreneurial effort not invested elsewhere.
Entrepreneur's Talent
The unique set of skills, creativity, and determination that an entrepreneur brings to identifying opportunities and building a business.
Implicit Costs
Implicit costs refer to the opportunity costs of using resources that a company already owns, without any direct payment, for its own production purposes.
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