Adifference between explicit and implicit costs is that a) explicit costs must be greater than implicit costs. b) explicit costs do not require a direct monetary outlay by the firm, whereas implicit costs do. c) implicit costs do not require a direct monetary outlay by the firm, whereas explicit costs do. d) implicit costs must be greater than explicit costs.

Match the terms with the appropriate definition. 1. work done for pay job 2. series of related jobs based on knowledge, training, tasks performed, interests, and experience career 3. buying or selling products and services using the internet mediation 4. wage amount after deductions are withheld net wage 5. a way a person chooses to live his or her life e-commerce 6. the people who are both able and willing to work technology 7. unequal treatment of others based on a bias concerning a person’s characteristics such as race, religion, gender, or age discrimination 8. the act of sharing information lifestyle 9. the use of a third party to make suggestions workforce 10. knowledge and tools used to perform tasks communication