One of the Major Reasons Some Families Do Not Schedule

question 5

Multiple Choice

One of the major reasons some families do not schedule well-child visits is________.

• A) lack of education
• B) lack of insurance
• C) ignorance
• D) not seeing a reason to go

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Definitions:

Explicit Costs

Direct, out-of-pocket payments for wages, rent, materials, and other inputs necessary for the production of goods or services.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own use, without any direct payment made.

Opportunity Cost

The worth of the best alternative given up to make a choice.

Accounting Profit

The financial gain calculated by subtracting total expenses from total revenues, according to standard accounting principles.