Which of the Following Is NOT an Example of Explicit

question 97

Multiple Choice

Which of the following is NOT an example of explicit costs?

• A)Wages paid to workers
• B)Personal savings of the owner invested in the firm
• C)Salaries paid to management
• D)Office space rent

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Definitions:

Product Development

Product development is the process of bringing a new product to market, including the conception, design, and manufacture of products that meet consumer needs and preferences.

Market Penetration

A measure of the amount of sales or adoption of a product or service compared to the total theoretical market for that product or service.

More Resources

Refers to an increase in the availability of materials, finances, or other assets that are necessary for achieving objectives or completing tasks.

Recipes on Box

Instructions for preparing meals printed on the packaging of food products, adding value and convenience for consumers.