In Defining Economic Costs,economists Emphasize

question 27

Multiple Choice

In defining economic costs,economists emphasize

• A)Explicit and implicit costs while accountants recognize only implicit costs.
• B)Explicit and implicit costs while accountants recognize only explicit costs.
• C)Only explicit costs while accountants recognize only implicit costs.
• D)Only explicit costs while accountants recognize explicit and implicit costs.

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Definitions:

Physical Impairments

Conditions that limit an individual's physical function, mobility, dexterity, or stamina.

Gerontologists

Scientists or experts who study the aging process and the problems that elderly individuals may encounter.

Young-Old

A classification in gerontology referring to older adults typically between the ages of 65 and 74, considered young within the older population.

Old-Old

Adults aged 75 to 84, who typically live independently but often experience some physical and mental impairment.