In a Psychological Analysis,the Audience's Concepts of Right and Wrong,good

question 10

Multiple Choice

In a psychological analysis,the audience's concepts of right and wrong,good and bad are known as

• A)beliefs.
• B)values.
• C)attitudes.
• D)feelings.

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Definitions:

Accounting Profit

The difference between total revenue and explicit costs of a business.

Economic Profit

The profit a company makes after deducting both explicit and implicit costs, reflecting the total opportunity costs of its resources.

Implicit Costs

The opportunity costs of using resources that are owned by the firm or entrepreneur for one purpose instead of another, not directly paid out in cash.

Entrepreneur's Talent

is the unique skill set, creativity, and capacity to innovate and take risks that an entrepreneur brings to the economic table, instrumental in starting and growing businesses.