About Alicia Keys. Alicia Keys can be described as a modern-day Renaissance woman. A 12-time Grammy Award-winning singer/songwriter/producer, Keys is also an accomplished actress, a New York Times best-selling author, an entrepreneur and a powerful force in the world of philanthropy and in the global fight against HIV and AIDS.
Implicit costs can also be thought of as intangible costs that are not easily accounted for. For example, the time and effort that an owner puts into the maintenance of the company, rather than working on expansion, can be viewed as an implicit cost of running the business.
slide 1 of 4. When comparing implicit vs. explicit cost, explicit costs or direct costs are payments for the purchase of productive resources. Such costs are clear and require tangible cash outflow or outlay of money that has a direct impact on profits. Examples include wages, rents, raw materials, and utility bills.