Explicit Costs Are _____

question 67

Multiple Choice

Explicit costs are _____

• A)not part of opportunity costs.
• B)the only costs considered in opportunity costs.
• C)exactly the same as implicit costs.
• D)actual cash payments for resources purchased.
• E)the opportunity costs of using resources owned by the firm.

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Definitions:

Appropriateness

The quality of being suitable or fitting for a particular purpose, person, occasion, or place.

Selection Process

The series of steps employers use to decide which candidates to hire from a pool of applicants.

Out-of-pocket Costs

Expenses that individuals must pay directly without reimbursement, often relating to healthcare, business expenses, or personal purchases.

Drug and Alcohol Policies

Guidelines set by organizations to regulate the consumption of drugs and alcohol to maintain a safe and productive workplace.