Explicit costs are direct, out-of-pocket expenses that a company incurs during its operations. These costs are easily identifiable and measurable, typically involving monetary transactions. Explicit ...

Implicit and explicit business transactions relate to a company's opportunity costs and cash expenditures. A business incurs explicit costs from a variety of sources, including hiring workers and ...

Learn about imputed costs, often known as opportunity or implicit costs, which represent the forgone benefits when choosing one action over another with your assets.