Examlex
When faced with a difficult situation with a customer,instead of saying "I've had it with your complaints!" Sue always says,"I'm having trouble seeing how I can fix this situation.Would you explain to me what you want to see happen?" In terms of responsibilities of a communicator,this is an example of:
Forgone Rent
The potential income lost by choosing to use a property or resource in a way that is not financially optimal or by not using it at all.
Economic Profits
The surplus generated from business activities after accounting for both explicit and implicit costs, including opportunity costs, representing above-normal returns.
Explicit Costs
Direct, out-of-pocket payments for costs of production, such as wages, rent, and materials, that a company incurs in conducting its business.
Implicit Costs
Costs that represent the opportunity cost of using resources that a business already owns, rather than explicit outlays of cash.
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