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.
Along with variable costs, fixed costs make up one of the two components of total cost: total cost is equal to fixed costs plus variable costs. In economics, fixed costs, indirect costs or overheads are business expenses that are not dependent on the level of goods or services produced by the business. They tend to be time-related, such as salaries or rents being paid per month, and are often referred to as overhead costs.