Giving examples, explainthe meaning of costin economics.

1.	Giving examples, explainthe meaning of costin economics.
Answer» <html><body><p></p>Solution :Cost is the <a href="https://interviewquestions.tuteehub.com/tag/total-711110" style="font-weight:bold;" target="_blank" title="Click to know more about TOTAL">TOTAL</a> expenditure incurred in producing a commodity. In economics, cost is the sum total of : <a href="https://interviewquestions.tuteehub.com/tag/explicit-455193" style="font-weight:bold;" target="_blank" title="Click to know more about EXPLICIT">EXPLICIT</a> cost and implicit cost. for <a href="https://interviewquestions.tuteehub.com/tag/example-978283" style="font-weight:bold;" target="_blank" title="Click to know more about EXAMPLE">EXAMPLE</a>,wages <a href="https://interviewquestions.tuteehub.com/tag/paid-1145567" style="font-weight:bold;" target="_blank" title="Click to know more about PAID">PAID</a> to employees.</body></html>

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