Implicit Costs Are Costs That Affect Others External to a Choice

question 13

True/False

Implicit costs are costs that affect others external to a choice or a trade.

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Definitions:

Advanced Degree

A level of education beyond a bachelor's degree, including master's degrees, doctoral degrees, and professional degrees.

Systematic Desensitization

A behavioral therapy technique that gradually exposes individuals to a feared stimulus to reduce the anxiety associated with it.

Stressful Stimulus

Any external or internal event or condition that causes stress in an individual, potentially leading to a physiological and psychological response.

Fear of Heights

An anxiety disorder characterized by an irrational and excessive fear of heights, also known as acrophobia.