Which of the Following Statements About Prejudice Is True

question 77

Multiple Choice

Which of the following statements about prejudice is true?

• A)Prejudice involves prejudgments.
• B)Prejudice treats everyone in some category the same way.
• C)Prejudice can be positive or negative.
• D)All of these correct.

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Definitions:

Explicit Costs

These are direct payments made to others in the course of running a business, such as wages, rent, and materials.

Implicit Costs

Costs that represent potential benefits foregone when resources are not utilized in their next-best alternative use.

Economic Profit

The financial gain achieved when revenues from business activity exceed the explicit and implicit costs of that activity.

Implicit Costs

Costs that represent the opportunity costs of using resources that the firm already owns, unlike explicit costs which involve direct monetary outlay.