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Remove Contens Box
editNuff said. Anyone disagree? —Preceding unsigned comment added by Gold1618 (talk • contribs) 02:04, 13 March 2010 (UTC)
IMPLICIT COST
editImplicit cost is the imputed or estimated values of factors of production that is owned by the enterprises or buisness organisation and used in their own production process for production of commodities. There are mainly four factors of production;land,labour,capital and entrepreneurship accordingly factor incomes are rent,interst,wages and profits.If a firm hires these various factors of production it has to pay rent for hire of land,price for capital,wages to labour and a part of profit to the entreprenuers for managing the buisness.Now suppose an entrepenur owns land , have invested his own capital and gives valuable managerial services for the upliftment of the firm. Accordingly he should get rent,interst and profits. A firm utilising its own resources dosen't actually pay to itself for utilising those resources.But from economic perspective cost of such resources should be calculated for correct valuation of economic cost because all reources has oppurtunity cost which it has to take in to consideration. (edited by Zeeshan Tarafdar) —Preceding unsigned comment added by 221.135.209.246 (talk • contribs) July 8, 2006
Merge
editUsually I prefer not to interfere in en:WP, since I don't have the language to do so. In this case, however, I can not see any difference in the subjects. They both refer to what I once learned to be Alternative cost. Or is the Implicit cost not really correct? Best regards // Mankash (talk) 05:03, 15 July 2008 (UTC)
- In my experience, the more common term in the US business and economic literature is opportunity cost. I wonder if implicit cost may be a British usage. EastTN (talk) 18:05, 15 July 2008 (UTC)
I've never heard it called implicit cost, always opportunity cost. this goes back to my high school days. mplona (talk) 10:12, 19 Aug 2008 (UTC)
Opportunity cost is the only word I've ever heard used. Don't merge. —Preceding unsigned comment added by 76.4.231.53 (talk) 22:15, 17 September 2008 (UTC)
I've put a merge to Opp cost tag on it. Which just means the tag will sit there for four+ years. Probably should just AfD it.radek (talk) 01:00, 26 January 2010 (UTC)
Implicit costs and Opportunity costs are different, an explicit cost could be an opportunity cost, because what you are spending on the explicit cost could be spent on something else —Preceding unsigned comment added by 119.224.46.163 (talk) 08:51, 29 July 2010 (UTC)