An Explicit Cost Is

question 80

Multiple Choice

An explicit cost is

• A)a nonmonetary opportunity cost.
• B)a cost specifically related to government rules and regulations.
• C)a cost that involves spending money.
• D)a cost unique to corporations.

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Definitions:

External Stimuli

Things that are visual (sight), auditory (hearing), olfactory (smell), tactile (touch), and gustatory (taste).

Basic Need

Fundamental requirements necessary for individuals to live a healthy and sustainable life, including food, water, shelter, and security.

Internal Stimuli

Things that are kinesthetic or visceral.

Psychological Homeostasis

The process by which individuals maintain mental and emotional stability despite external stressors or changes in the environment.