Which of the Following Statements Is False

question 177

Multiple Choice

Which of the following statements is false?

• A)An implicit cost is a nonmonetary opportunity cost.
• B)Economic costs include both accounting costs and implicit costs.
• C)An explicit cost is a cost that involves spending money.
• D)Economists consider all costs to be implicit costs.

Understand the importance of rationality and logic in tempering passion when planning and running a business.

Identify key focuses for new business starters, such as obtaining financing, emotions involved, hiring, and making a profit.

Recognize the different sections of a business plan and their purposes, including executive summary, company and industry, products and services, and marketing research and evaluation.

Know the advised practices and tips for developing an effective business plan, including length, person, and template usage.

---

Definitions:

Psychosexual Stages

A Freudian theory that proposes five stages of psychological development (oral, anal, phallic, latency, genital) through which a child's libido focuses on different erogenous zones.

Displacement

Displacement is a defense mechanism where an individual shifts feelings from an undesirable situation or person to someone or something that is less threatening.

Regression

In psychology, a defense mechanism leading an individual to revert to an earlier stage of development in response to stress or conflict; in statistics, a method to determine the relationship between variables.

Projection

A defense mechanism where individuals attribute their unwanted feelings, impulses, or thoughts onto someone else.