Costs can be deﬁned as total payments made to workers, landowners, and capital suppliers less
payments to the entrepreneur for organizing and combining the other resources used to produce a
good.

Question

Quizplus · Accepted Answer

Costs can be defined as total payments made to workers, landowners, capital suppliers, AND payments to the entrepreneur for organizing and combining the other resources used to produce a good. Therefore, the statement is false.

Costs Can Be Deﬁned as Total Payments Made to Workers