________ Is Called an Implicit Cost, While ________ Is Called

question 155

Multiple Choice

________ is called an implicit cost, while ________ is called an explicit cost.

• A)An accounting cost; an economic cost
• B)A nonmonetary opportunity cost; a cost that involves spending money
• C)A production cost; a sales cost
• D)An actual cost; a hypothetical cost

---

Definitions:

Own Market

A term referring to the market where a company sells its products or services, often in contrast to competitor markets.

Reseller

An entity or person who buys products or services to sell them, rather than to use or consume them personally.

Multibranding

The marketing strategy that involves a company using two or more brands to market similar products or services to different segments.

Target Markets

Particular segments of prospective customers that a business targets with its marketing strategies and actions.