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An example of basic research is
Annual Lease
A contract that allows for the rental of a property for a period of one year.
Implicit Costs
The opportunity costs of using resources that a company already owns, essentially the income the company could have earned by using these resources in another way.
Explicit Costs
Direct, out-of-pocket payments for expenses incurred in conducting business, such as wages and materials.
Nonexpenditure Costs
Costs not directly involving monetary payment but may include time, effort, or loss of opportunity.
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