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.
Initially developed by Android Inc., which Google bought in 2005, Android was unveiled in 2007, along with the founding of the Open Handset Alliance â a consortium of hardware, software, and telecommunication companies devoted to advancing open standards for mobile devices.
In this case, we're talking about smartphones. Android is a popular, Linux-based mobile phone operating system developed by Google. The Android OS powers phones, watches, and even car stereos. Let's take a closer look and learn what Android really is.