Sherry Gu

Beijing, China

146 Kifejezés    0 Szójegyzék    1 Követő    16994 Viewers

Sherry Gu

Beijing, China

146 Kifejezés    0 Szójegyzék    1 Követő    16994 Viewers

Sherry Gu's Terms

economic cost

Economy; Economics

The economic cost of producing a good is the opportunity cost of the firm's production.

explicit costs

Economy; Economics

Explicit costs are any costs to a firm that involve the direct payment of money.

implicit costs

Economy; Economics

Implicit costs are the earnings that a firm could have had if it had employed its factors in another use of if it had hired out or sold them to another firm.

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