Advertisements
Advertisements
प्रश्न
Give the definition for ‘Real Cost’.
उत्तर
Real Cost refers to the payment made to compensate for the efforts and sacrifices of all factor owners for their services in production. Real Cost includes the efforts and sacrifices of landlords in the use of land, capitalists to save and invest, and workers in foregoing leisure. Real costs are considered pains and sacrifices of labour as the real cost of production.
APPEARS IN
संबंधित प्रश्न
Cost functions are also known as ______ function.
Money cost is also known as ______ cost.
Explicit cost plus implicit cost denote _______ cost.
Explicit costs are termed as
The costs of self–owned resources are termed as ________ cost.
The cost that remains constant at all levels of output is _____ cost.
The cost that varies with the level of output is termed as _______ cost.
Wage is an example for ________ cost of the production.
Define cost.
Define cost function.
What do you mean by fixed cost?
What is meant by Sunk cost?
Distinguish between fixed cost and variable cost.
State the differences between money cost and real cost.
Distinguish between explicit cost and implicit cost.
