GK
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which cost are the cash payment made by an entrepreneur to the suppliers of the various factor of production
|
|
economic cost
|
|
|
accounting cost
|
|
|
future cost
|
|
|
incremental cost
|
Explanation:
Detailed explanation-1: -Payments made by the entrepreneur of the firm to the factor of productions they employ is counted under accounting costs. These are costs that are either directly or indirectly involved in the production process. And thus must be explicit costs.
There is 1 question to complete.