To run the business, he outlays $8,000 in cash to cover all the costs involved with running the business, and earns revenues of $150,000. Winston's implicit costs $64,000
<h3>What is implicit costs?</h3>
Any expense that has already happened but isn't always shown or reported as a separate charge is considered an implicit cost. It stands for an opportunity cost that develops when a business commits internal resources to a project without receiving any direct payment in exchange.
For instance, losing out on sales and commissions while training a new employee takes up a day. This opportunity cost, often known as the commission and other pay, is a cost to the employee or trainer.
Explicit costs are distinguished from implicit costs by economists. Out-of-pocket costs including those for labour, supplies, and rent are considered explicit costs, also known as accounting costs. Implicit costs are expenses a company faces without making a direct financial commitment.
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Answer:
Highly
Explanation:
In a global context, economic development is highly correlated with the level and efficiency of financial markets and institutions.
Financial markets can be defined as any marketplace where the trading of securities occurs.
Types of financial markets includes:
1. Money market
2. Foreign exchange market (forex)
3. Bond market
4. Over the counter market
5. Stock market
Economic development refers to the process by which a state improves the economic, political, and social well-being of its citizens. It involves structural transformation, technological innovation and industrial upgrading which will increase labor productivity and improvements in infrastructure.
Stages of economics development includes:
1. Traditional stage
2. Pre-condition for take off stage
3. Take off stage
4. Drive to maturity stage
5. Age of high mass consumption stage
Answer:
Highly
Explanation:
In a global context, economic development is highly correlated with the level and efficiency of financial markets and institutions.
Fashion merchandising is the promotion of apparel sales and involves all of the tasks necessary to deliver the clothing requests and meet the needs of potential customers and designers.
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
$1,239.2
Explanation:
finance charge refer the cost of using credit funds. It is the total amount a borrower pays to lender on top of the amount borrowed.
In this case, the total amount the customer paid for the oven
The deposit $1000.00
Monthly installment; $278.45 x 36= $10,024.2
Total amount paid =$278.45 +$10,024.2
=11,024.2
finance charge = total amount paid - cost of the item
= $11,024.2 - $9,785.
=$1,239.2
