Which of the Following Is an Explicit Cost of Production

question 96

Multiple Choice

Which of the following is an explicit cost of production?

• A) wages paid to workers
• B) the electric bill
• C) purchases of raw material
• D) Only answers A and B are explicit costs because the purchases of raw material is only an opportunity cost.
• E) Answers A, B, and C are all correct.

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Definitions:

Telegraphic Speech

Early form of sentence use consisting of only a few essential words.

Babbling

Early stage of language acquisition among infants, involving spontaneous production of meaningless speech sounds, an important precursor to language development.

Representational Gesture

Movements or signals used to convey or represent specific thoughts or ideas without using words.

Conventional Social Gesture

A socially accepted movement or action, like a handshake or nod, that communicates a message or intention without words.