Implicit Costs Are

question 436

Multiple Choice

Implicit costs are

• A)the same as economic costs.
• B)comprised entirely of actual expenses paid by the firm for its inputs.
• C)opportunity costs of self-employed resources.
• D)always greater than accounting costs.

---

Definitions:

Incompatible

Unable to exist or work together in harmony due to differences in characteristics, objectives, or properties.

Cohesive Work Groups

Teams whose members work well together, creating a unified and supportive environment that fosters productivity and positive relations.

Turnover

The speed at which workers depart from an organization and new workers take their place.

Intrinsic Motivation

Motivation driven by an interest or enjoyment in the task itself, rather than external factors like rewards.