Meaning Explicit cost
What does Explicit cost mean? Here you find 4 meanings of the word Explicit cost. You can also add a definition of Explicit cost yourself
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Explicit costAn opportunity cost that involves a money payment and usually a market transaction. This should be contrasted with implicit cost that does NOT involve a money payment or a market transaction. Explicit [..]
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Explicit costThe monetary payment a firm must make to obtain a resource.
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Explicit costA cost that involves actually laying out money. A direct expense that a business incurs, such as rent, salaries, wages, or utility bills.
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Explicit costThe amount spent to obtain or produce something.
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