Explicit costs are taken into account along with implicit ones when considering economic profit.

It is the opposite of an explicit cost, which is borne directly.

"There are a lot of things the Government can do with no explicit cost to the Government," he said.

Accounting profit only takes explicit costs into account.

Explicit costs are opportunity costs that involve direct monetary payment by producers.

But explicit costs like commissions make up only 10 percent of an investor's total costs, according to Salomon Smith Barney.

In hiring decisions, the implicit costs of internal loans have exactly the same economic standing as the explicit costs of external loans.

For each item, follow the type of pricing rule used by Classical economics for produced items, where price is determined by explicit costs of production:

Such orders will, therefore, get filled less quickly than the fully public equivalent, and they often carry an explicit cost penalty in the form of a larger execution cost charged by the market.

It is not to be confused with profit in finance and accounting, which is equal to revenue minus only explicit costs, and superprofit, a concept in Marxian economic theory.

Of course, in addition to the spread, which is an implicit cost of trading, small investors also face explicit costs in the form of commission fees charged by their retail brokers.

The person who is affected by the negative externalities in the case of air pollution will see it as lowered utility: either subjective displeasure or potentially explicit costs, such as higher medical expenses.

An explicit cost is a direct payment made to others in the course of running a business, such as wage, rent and materials, as opposed to implicit costs, which are those where no actual payment is made.

The cost of emigration, which includes both the explicit costs, the ticket price, and the implicit cost, lost work time and loss of community ties, also play a major role in the pull of emigrants away from their native country.

For instance, the true economic cost of attending a concert - its "opportunity cost" - includes not just the explicit cost of the ticket but also the implicit value of other opportunities that must be forgone to attend the concert.

Implicit costs also represent the divergence between economic profit (total revenues minus total costs, where total costs are the sum of implicit and explicit costs) and accounting profit (total revenues minus only explicit costs).