Define explicit cost and implicit cost
Briefly describe the term explicit cost and implicit cost?
Expert
Explicit cost is the cost that is outside to the business such as rent, wage and materials. It gives obvious depiction of the cash outflow from business that is employed to reduce the end outcome of profitability. This straightly influences the revenue of the company. Implicit cost is the end result of one person who tries to satisfy his wants in search of an activity that gives no reward to him through money or any other form of payment. It consists of reimbursement and satisfaction. For instance: goodwill. It is not counted up in terms of money and it is indirect insubstantial cost.
Evaluate and explain the statements: “In the economic sense production methods are the most efficient methods, once resource prices are considered and are lesser in sense of engineering”.
Briefly describe composite cost of capital? And also describe the procedure to calculate composite cost of capital?
Economic efficiency is present while the: (w) economic system is a pure socialist system. (x) resources obtainable are slightly wasted. (y) value of output is maximized, specified restricted resources. (z) utilization of resources is minimized. <
How market system promotes technological improvements?
Give a brief introduction of the term Cost of preference shares?
Question: In Vancouver the Salvation Army encourages people to make food voucher donations to panhandlers instead of simply giving them cash. You can buy a food voucher for $5 and give it to a panhandler who can use it to purchase food. The Sa
What do you understand by the term internal rate of return?
What are the major legal forms of business organization?
Who will get the goods and services?
Explain the statements: The market system provides such a variety of desired goods and services precisely.
18,76,764
1923251 Asked
3,689
Active Tutors
1455968
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!