Economic cost concepts

•Download as PPTX, PDF•

0 likes•258 views

Explicit Costs

Are usually obvious and readily
quantifiable monetary payments a firm
makes to another party to obtain
resources.

IMPLICIT COSTS

May be considered as the monetary income a firm
sacrifices when it uses its own resources
rather than using these resources as those that
can be supplied to the open market for
alternative uses.

More Related Content

Viewers also liked

Chop - Shop Barbers, Crane Lane

Chop - Shop Barbers, Crane Lane

Chop - Shop Barbers, Crane LaneMarie-Clare Byard

US6831616 - Transmission Line Balun With Parasitic Mode Termination

US6831616 - Transmission Line Balun With Parasitic Mode Termination

US6831616 - Transmission Line Balun With Parasitic Mode TerminationSushil Kumar

Touchless controlling technology using gesture recognisation

Touchless controlling technology using gesture recognisation

Touchless controlling technology using gesture recognisationATHUL RAJ.R

20-42GHz x2Sushil Kumar

motoFANkowy tutorial odc.3

motoFANkowy tutorial odc.3

motoFANkowy tutorial odc.3Rajdy w Pobiedziskach / motoFANki

Rajd Niepodległości_2014_cz._1

Rajd Niepodległości_2014_cz._1

Rajd Niepodległości_2014_cz._1Rajdy w Pobiedziskach / motoFANki

Remote detection of illegal usage of electricity

Remote detection of illegal usage of electricity

Remote detection of illegal usage of electricityATHUL RAJ.R

LifestyleGary Dobbs

motoFANki 2015Rajdy w Pobiedziskach / motoFANki

Ex.arithmoiΛαζαρος Φυλακτος

motoFANki 2015Rajdy w Pobiedziskach / motoFANki

motoFANki_2014_coś więcej

motoFANki_2014_coś więcej

motoFANki_2014_coś więcejRajdy w Pobiedziskach / motoFANki

E-Mode LNASushil Kumar

6 ffterssaikirandevalla

Nuclear power plant

Nuclear power plant

Nuclear power plantATHUL RAJ.R

E- Mode LNASushil Kumar

mwjournal_u3700

mwjournal_u3700

mwjournal_u3700Sushil Kumar

Costs associated with production

Costs associated with production

Costs associated with productionAnne Acosta

Hevert mrkrik

Chip Scale PkgSushil Kumar

Viewers also liked (20)

Chop - Shop Barbers, Crane Lane

Chop - Shop Barbers, Crane Lane

Chop - Shop Barbers, Crane Lane

US6831616 - Transmission Line Balun With Parasitic Mode Termination

US6831616 - Transmission Line Balun With Parasitic Mode Termination

US6831616 - Transmission Line Balun With Parasitic Mode Termination

Touchless controlling technology using gesture recognisation

Touchless controlling technology using gesture recognisation

Touchless controlling technology using gesture recognisation

20-42GHz x2

motoFANkowy tutorial odc.3

motoFANkowy tutorial odc.3

motoFANkowy tutorial odc.3

Rajd Niepodległości_2014_cz._1

Rajd Niepodległości_2014_cz._1

Rajd Niepodległości_2014_cz._1

Remote detection of illegal usage of electricity

Remote detection of illegal usage of electricity

Remote detection of illegal usage of electricity

Lifestyle

motoFANki 2015

Ex.arithmoi

motoFANki 2015

motoFANki_2014_coś więcej

motoFANki_2014_coś więcej

motoFANki_2014_coś więcej

E-Mode LNA

6 ffters

Nuclear power plant

Nuclear power plant

Nuclear power plant

E- Mode LNA

mwjournal_u3700

mwjournal_u3700

mwjournal_u3700

Costs associated with production

Costs associated with production

Costs associated with production

Hevert

Chip Scale Pkg

More from Anne Acosta

Accounting cost concepts

Accounting cost concepts

Accounting cost conceptsAnne Acosta

Goals, expectations and competencies

Goals, expectations and competencies

Goals, expectations and competenciesAnne Acosta

Production and costs concepts

Production and costs concepts

Production and costs conceptsAnne Acosta

Production function

Production function

Production functionAnne Acosta

The Indolence of Filipinos

The Indolence of Filipinos

The Indolence of FilipinosAnne Acosta

Nature and structure of makabayan

Nature and structure of makabayan

Nature and structure of makabayanAnne Acosta

Cost Associated with Production

Cost Associated with Production

Cost Associated with ProductionAnne Acosta

SandersAnne Acosta

Sarah colina principle 2

Sarah colina principle 2

Sarah colina principle 2Anne Acosta

Siba lAnne Acosta

Wena ganda chos!

Wena ganda chos!

Wena ganda chos!Anne Acosta

Production Function

Production Function

Production FunctionAnne Acosta

More from Anne Acosta (12)

Accounting cost concepts

Accounting cost concepts

Accounting cost concepts

Goals, expectations and competencies

Goals, expectations and competencies

Goals, expectations and competencies

Production and costs concepts

Production and costs concepts

Production and costs concepts

Production function

Production function

Production function

The Indolence of Filipinos

The Indolence of Filipinos

The Indolence of Filipinos

Nature and structure of makabayan

Nature and structure of makabayan

Nature and structure of makabayan

Cost Associated with Production

Cost Associated with Production

Cost Associated with Production

Sanders

Sarah colina principle 2

Sarah colina principle 2

Sarah colina principle 2

Siba l

Wena ganda chos!

Wena ganda chos!

Wena ganda chos!

Production Function

Production Function

Production Function

Recently uploaded

Visit to a blind student's school🧑‍🦯🧑‍🦯(community medicine)

Visit to a blind student's school🧑‍🦯🧑‍🦯(community medicine)

Visit to a blind student's school🧑‍🦯🧑‍🦯(community medicine)lakshayb543

INTRODUCTION TO CATHOLIC CHRISTOLOGY.pptx

INTRODUCTION TO CATHOLIC CHRISTOLOGY.pptx

INTRODUCTION TO CATHOLIC CHRISTOLOGY.pptxHumphrey A Beña

Like-prefer-love -hate+verb+ing & silent letters & citizenship text.pdf

Like-prefer-love -hate+verb+ing & silent letters & citizenship text.pdf

Like-prefer-love -hate+verb+ing & silent letters & citizenship text.pdfMr Bounab Samir

Karra SKD Conference Presentation Revised.pptx

Karra SKD Conference Presentation Revised.pptx

Karra SKD Conference Presentation Revised.pptxAshokKarra1

Gas measurement O2,Co2,& ph) 04/2024.pptx

Gas measurement O2,Co2,& ph) 04/2024.pptx

Gas measurement O2,Co2,& ph) 04/2024.pptxDr.Ibrahim Hassaan

How to Add Barcode on PDF Report in Odoo 17

How to Add Barcode on PDF Report in Odoo 17

How to Add Barcode on PDF Report in Odoo 17Celine George

Keynote by Prof. Wurzer at Nordex about IP-design

Keynote by Prof. Wurzer at Nordex about IP-design

Keynote by Prof. Wurzer at Nordex about IP-designMIPLM

Science 7 Quarter 4 Module 2: Natural Resources.pptx

Science 7 Quarter 4 Module 2: Natural Resources.pptx

Science 7 Quarter 4 Module 2: Natural Resources.pptxMaryGraceBautista27

Grade 9 Q4-MELC1-Active and Passive Voice.pptx

Grade 9 Q4-MELC1-Active and Passive Voice.pptx

Grade 9 Q4-MELC1-Active and Passive Voice.pptxChelloAnnAsuncion2

Full Stack Web Development Course for Beginners

Full Stack Web Development Course for Beginners

Full Stack Web Development Course for BeginnersSabitha Banu

ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...

ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...

ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...JhezDiaz1

How to do quick user assign in kanban in Odoo 17 ERP

How to do quick user assign in kanban in Odoo 17 ERP

How to do quick user assign in kanban in Odoo 17 ERPCeline George

Computed Fields and api Depends in the Odoo 17

Computed Fields and api Depends in the Odoo 17

Computed Fields and api Depends in the Odoo 17Celine George

FINALS_OF_LEFT_ON_C'N_EL_DORADO_2024.pptx

FINALS_OF_LEFT_ON_C'N_EL_DORADO_2024.pptx

FINALS_OF_LEFT_ON_C'N_EL_DORADO_2024.pptxConquiztadors- the Quiz Society of Sri Venkateswara College

4.18.24 Movement Legacies, Reflection, and Review.pptx

4.18.24 Movement Legacies, Reflection, and Review.pptx

4.18.24 Movement Legacies, Reflection, and Review.pptxmary850239

ANG SEKTOR NG agrikultura.pptx QUARTER 4

ANG SEKTOR NG agrikultura.pptx QUARTER 4

ANG SEKTOR NG agrikultura.pptx QUARTER 4MiaBumagat1

ECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptx

ECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptx

ECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptxiammrhaywood

HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...

HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...

HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...Nguyen Thanh Tu Collection

YOUVE_GOT_EMAIL_PRELIMS_EL_DORADO_2024.pptx

YOUVE_GOT_EMAIL_PRELIMS_EL_DORADO_2024.pptx

YOUVE_GOT_EMAIL_PRELIMS_EL_DORADO_2024.pptxConquiztadors- the Quiz Society of Sri Venkateswara College

call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️

call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️

call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️9953056974 Low Rate Call Girls In Saket, Delhi NCR

Recently uploaded (20)

Visit to a blind student's school🧑‍🦯🧑‍🦯(community medicine)

Visit to a blind student's school🧑‍🦯🧑‍🦯(community medicine)

Visit to a blind student's school🧑‍🦯🧑‍🦯(community medicine)

INTRODUCTION TO CATHOLIC CHRISTOLOGY.pptx

INTRODUCTION TO CATHOLIC CHRISTOLOGY.pptx

INTRODUCTION TO CATHOLIC CHRISTOLOGY.pptx

Like-prefer-love -hate+verb+ing & silent letters & citizenship text.pdf

Like-prefer-love -hate+verb+ing & silent letters & citizenship text.pdf

Like-prefer-love -hate+verb+ing & silent letters & citizenship text.pdf

Karra SKD Conference Presentation Revised.pptx

Karra SKD Conference Presentation Revised.pptx

Karra SKD Conference Presentation Revised.pptx

Gas measurement O2,Co2,& ph) 04/2024.pptx

Gas measurement O2,Co2,& ph) 04/2024.pptx

Gas measurement O2,Co2,& ph) 04/2024.pptx

How to Add Barcode on PDF Report in Odoo 17

How to Add Barcode on PDF Report in Odoo 17

How to Add Barcode on PDF Report in Odoo 17

Keynote by Prof. Wurzer at Nordex about IP-design

Keynote by Prof. Wurzer at Nordex about IP-design

Keynote by Prof. Wurzer at Nordex about IP-design

Science 7 Quarter 4 Module 2: Natural Resources.pptx

Science 7 Quarter 4 Module 2: Natural Resources.pptx

Science 7 Quarter 4 Module 2: Natural Resources.pptx

Grade 9 Q4-MELC1-Active and Passive Voice.pptx

Grade 9 Q4-MELC1-Active and Passive Voice.pptx

Grade 9 Q4-MELC1-Active and Passive Voice.pptx

Full Stack Web Development Course for Beginners

Full Stack Web Development Course for Beginners

Full Stack Web Development Course for Beginners

ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...

ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...

ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...

How to do quick user assign in kanban in Odoo 17 ERP

How to do quick user assign in kanban in Odoo 17 ERP

How to do quick user assign in kanban in Odoo 17 ERP

Computed Fields and api Depends in the Odoo 17

Computed Fields and api Depends in the Odoo 17

Computed Fields and api Depends in the Odoo 17

FINALS_OF_LEFT_ON_C'N_EL_DORADO_2024.pptx

FINALS_OF_LEFT_ON_C'N_EL_DORADO_2024.pptx

FINALS_OF_LEFT_ON_C'N_EL_DORADO_2024.pptx

4.18.24 Movement Legacies, Reflection, and Review.pptx

4.18.24 Movement Legacies, Reflection, and Review.pptx

4.18.24 Movement Legacies, Reflection, and Review.pptx

ANG SEKTOR NG agrikultura.pptx QUARTER 4

ANG SEKTOR NG agrikultura.pptx QUARTER 4

ANG SEKTOR NG agrikultura.pptx QUARTER 4

ECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptx

ECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptx

ECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptx

HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...

HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...

HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...

YOUVE_GOT_EMAIL_PRELIMS_EL_DORADO_2024.pptx

YOUVE_GOT_EMAIL_PRELIMS_EL_DORADO_2024.pptx

YOUVE_GOT_EMAIL_PRELIMS_EL_DORADO_2024.pptx

call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️

call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️

call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️

Economic cost concepts

1.

2. Explicit Costs Are usually obvious and readily quantifiable monetary payments a firm makes to another party to obtain resources.

3. IMPLICIT COSTS May be considered as the monetary income a firm sacrifices when it uses its own resources rather than using these resources as those that can be supplied to the open market for alternative uses.