Examlex
If you wanted to remove the influence of the cerebellum on motor control, what area of the brain could you remove without removing the entire cerebellum?
Implicit Cost
The opportunity costs that are not directly paid or incurred but represent the loss of alternative benefits when resources are used in a particular way.
Capital
A resource, such as equipment or buildings, used to produce goods and services.
Implicit Costs
The opportunity costs that are not directly paid for or visibly incurred in financial transactions but represent real costs to economic actors.
Economic Costs
Economic costs include both the explicit costs of production, such as raw materials and wages, and implicit costs, such as opportunity costs.
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