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Subscribe</a></div></div></div></div><nav class="menu language"><ul class="menu__list language__list"><li class=menu__item><a class=menu__link href=/>Home</a></li><li class=menu__item><a class=menu__link href=/blog/>Blog</a></li><li class=menu__item><a class=menu__link href=/services/>Services</a></li><li class=menu__item><a class=menu__link href=/uninotes/>UniNotes</a></li><li class=menu__item><a class=menu__link href=/contact/>Contact</a></li></ul></nav></header><main class=main><nav class="uninotes-breadcrumbs breadcrumbs"><a href=/uninotes/>UniNotes</a>
› <a href=/uninotes/s1/>S1</a>
› <span>ET DCM1107</span></nav><h1>ET DCM1107</h1><ul class="uninotes-list uninotes-list--units"><li class=uninotes-list__item><a class=uninotes-list__link href=/uninotes/s1/et-dcm1107/unit1/>Unit 1</a></li><li class=uninotes-list__item><a class=uninotes-list__link href=/uninotes/s1/et-dcm1107/unit2/>Unit 2</a></li></ul><nav class=page-nav><a class=page-nav__previous-link href=/uninotes/s1/bo-dcm1109/>← BO DCM1109</a>
› <span>ET DCM1107</span></nav><h1>ET DCM1107</h1><ul class="uninotes-list uninotes-list--units"><li class=uninotes-list__item><a class=uninotes-list__link href=/uninotes/s1/et-dcm1107/unit1/>Unit 1</a></li><li class=uninotes-list__item><a class=uninotes-list__link href=/uninotes/s1/et-dcm1107/unit2/>Unit 2</a></li><li class=uninotes-list__item><a class=uninotes-list__link href=/uninotes/s1/et-dcm1107/unit5/>Unit 5</a></li></ul><nav class=page-nav><a class=page-nav__previous-link href=/uninotes/s1/bo-dcm1109/>← BO DCM1109</a>
<a class=page-nav__next-link href=/uninotes/s1/ge-dcm1106/>GE DCM1106 →</a></nav></main><footer class=footer><p class=footer__copyright-notice>&copy; <a href=https://freedoms4.org>freedoms4.org</a> <a href=/changelog/>Changelog</a></p><p class=footer__theme-info>Built with <a href=https://gohugo.io>Hugo</a> and based on <a href=https://github.com/CyrusYip/hugo-theme-yue>Yue</a> theme</p></footer><script>(function(){var e=document.getElementById("theme-toggle");if(!e)return;function t(){var e=localStorage.getItem("theme");return e?e:window.matchMedia("(prefers-color-scheme: light)").matches?"light":"dark"}function n(e){document.documentElement.setAttribute("data-theme",e),localStorage.setItem("theme",e)}n(t()),e.addEventListener("click",function(){var e=document.documentElement.getAttribute("data-theme")||t();n(e==="dark"?"light":"dark")})})()</script><script>(function(){var e=document.getElementById("mobile-menu-check");if(!e)return;document.addEventListener("click",function(t){if(!e.checked)return;var n=e.closest(".brand__mobile-menu");n&&!n.contains(t.target)&&(e.checked=!1)})})()</script></body></html>

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@@ -61,4 +61,11 @@ B) Status goods or Veblen goods.&lt;br&gt;
C) Giffen goods.&lt;br&gt;
D) War.&lt;br&gt;
E) Economic depression.
F) Essential goods.&lt;/p&gt;</description></item></channel></rss>
F) Essential goods.&lt;/p&gt;</description></item><item><title>Unit 5</title><link>https://freedoms4.org/uninotes/s1/et-dcm1107/unit5/self/</link><pubDate>Mon, 01 Jan 0001 00:00:00 +0000</pubDate><author>your-email@example.com (Freedoms4)</author><guid>https://freedoms4.org/uninotes/s1/et-dcm1107/unit5/self/</guid><description>&lt;h3 class="heading" id="may-01-2026"&gt;
&lt;em&gt;&lt;strong&gt;May 01, 2026&lt;/strong&gt;&lt;/em&gt;&lt;span class="heading__anchor"&gt; &lt;a href="#may-01-2026"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;h2 class="heading" id="explicit-cost"&gt;
Explicit Cost&lt;span class="heading__anchor"&gt; &lt;a href="#explicit-cost"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;Explicit costs are direct, out-of-pocket payments that a business or individual makes for the use of resources or services. These costs are tangible, measurable, and recorded in accounting books, including expenses like rent, utility bills, wages, raw materials, and interest on borrowed capital.&lt;/p&gt;
&lt;h2 class="heading" id="implicit-cost"&gt;
Implicit Cost&lt;span class="heading__anchor"&gt; &lt;a href="#implicit-cost"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;Implicit costs are not directly paid out or recorded in financial statements, but represent the opportunity costs of using resources owned by the firm or individual. Examples include the forgone salary if an entrepreneur works in their own business instead of being employed elsewhere, or the interest income sacrificed by investing personal funds in the business rather than elsewhere.&lt;/p&gt;</description></item></channel></rss>

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@@ -41,4 +41,5 @@ Subscribe</a></div></div></div></div><nav class="menu language"><ul class="menu_
› <span>Live</span></nav><div class=uninotes-meta><span class=uninotes-meta__pill>S1</span>
<span class=uninotes-meta__pill>ET DCM1107</span>
<span class="uninotes-meta__pill uninotes-meta__pill--live">Live</span></div><h1>Unit 2</h1><details class=toc><summary class=toc__summary>Table of Contents</summary><nav id=TableOfContents><ul><li><ul><li><a href=#april-12-2026><em><strong>April 12, 2026</strong></em></a></li></ul></li><li><a href=#types-of-utility>Types of Utility</a></li><li><a href=#law-of-deminishing-marginal-utility>Law of Deminishing Marginal Utility</a></li><li><a href=#law-of-equi-marginal-utility>Law of Equi-Marginal Utility</a></li><li><a href=#law-of-demand>Law of Demand</a></li><li><a href=#exceptions-of-law-of-demand>Exceptions of Law of Demand</a></li></ul></nav></details><h3 class=heading id=april-12-2026><em><strong>April 12, 2026</strong></em><span class=heading__anchor> <a href=#april-12-2026>#</a></span></h3><h2 class=heading id=types-of-utility>Types of Utility<span class=heading__anchor> <a href=#types-of-utility>#</a></span></h2><p>A) Form Utility<br>B) Place<br>C) Time<br>D) Possession</p><h2 class=heading id=law-of-deminishing-marginal-utility>Law of Deminishing Marginal Utility<span class=heading__anchor> <a href=#law-of-deminishing-marginal-utility>#</a></span></h2><h2 class=heading id=law-of-equi-marginal-utility>Law of Equi-Marginal Utility<span class=heading__anchor> <a href=#law-of-equi-marginal-utility>#</a></span></h2><h2 class=heading id=law-of-demand>Law of Demand<span class=heading__anchor> <a href=#law-of-demand>#</a></span></h2><p>Price and Quantity demanded for a product is inversely related.</p><h2 class=heading id=exceptions-of-law-of-demand>Exceptions of Law of Demand<span class=heading__anchor> <a href=#exceptions-of-law-of-demand>#</a></span></h2><p>A) Assumption of increase in price.<br>B) Status goods or Veblen goods.<br>C) Giffen goods.<br>D) War.<br>E) Economic depression.
F) Essential goods.</p><nav class=page-nav><a class=page-nav__previous-link href=/uninotes/s1/et-dcm1107/unit1/>← Unit 1</a></nav></main><footer class=footer><p class=footer__copyright-notice>&copy; <a href=https://freedoms4.org>freedoms4.org</a> <a href=/changelog/>Changelog</a></p><p class=footer__theme-info>Built with <a href=https://gohugo.io>Hugo</a> and based on <a href=https://github.com/CyrusYip/hugo-theme-yue>Yue</a> theme</p></footer><script>(function(){var e=document.getElementById("theme-toggle");if(!e)return;function t(){var e=localStorage.getItem("theme");return e?e:window.matchMedia("(prefers-color-scheme: light)").matches?"light":"dark"}function n(e){document.documentElement.setAttribute("data-theme",e),localStorage.setItem("theme",e)}n(t()),e.addEventListener("click",function(){var e=document.documentElement.getAttribute("data-theme")||t();n(e==="dark"?"light":"dark")})})()</script><script>(function(){var e=document.getElementById("mobile-menu-check");if(!e)return;document.addEventListener("click",function(t){if(!e.checked)return;var n=e.closest(".brand__mobile-menu");n&&!n.contains(t.target)&&(e.checked=!1)})})()</script></body></html>
F) Essential goods.</p><nav class=page-nav><a class=page-nav__previous-link href=/uninotes/s1/et-dcm1107/unit1/>← Unit 1</a>
<a class=page-nav__next-link href=/uninotes/s1/et-dcm1107/unit5/>Unit 5 →</a></nav></main><footer class=footer><p class=footer__copyright-notice>&copy; <a href=https://freedoms4.org>freedoms4.org</a> <a href=/changelog/>Changelog</a></p><p class=footer__theme-info>Built with <a href=https://gohugo.io>Hugo</a> and based on <a href=https://github.com/CyrusYip/hugo-theme-yue>Yue</a> theme</p></footer><script>(function(){var e=document.getElementById("theme-toggle");if(!e)return;function t(){var e=localStorage.getItem("theme");return e?e:window.matchMedia("(prefers-color-scheme: light)").matches?"light":"dark"}function n(e){document.documentElement.setAttribute("data-theme",e),localStorage.setItem("theme",e)}n(t()),e.addEventListener("click",function(){var e=document.documentElement.getAttribute("data-theme")||t();n(e==="dark"?"light":"dark")})})()</script><script>(function(){var e=document.getElementById("mobile-menu-check");if(!e)return;document.addEventListener("click",function(t){if(!e.checked)return;var n=e.closest(".brand__mobile-menu");n&&!n.contains(t.target)&&(e.checked=!1)})})()</script></body></html>

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› <span>Unit 5</span></nav><div class=uninotes-meta><span class=uninotes-meta__pill>S1</span>
<span class=uninotes-meta__pill>ET DCM1107</span></div><h1>Unit 5</h1><p class=unit-choice__subtitle>Choose type:</p><div class=unit-choice__options><a class="unit-choice__card unit-choice__card--self" href=/uninotes/s1/et-dcm1107/unit5/self/><div class=unit-choice__icon><svg viewBox="0 0 24 24" width="32" height="32" fill="currentColor"><path d="M12 3 1 9l4 2.18v6L12 21l7-3.82v-6l2-1.09V17h2V9L12 3zm6.82 6L12 12.72 5.18 9 12 5.28 18.82 9zM17 15.99l-5 2.73-5-2.73v-3.72L12 15l5-2.73v3.72z"/></svg></div><div class=unit-choice__label>Self</div><div class=unit-choice__desc>Self-study notes</div></a><div class="unit-choice__card unit-choice__card--live unit-choice__card--unavailable"><div class=unit-choice__icon><svg viewBox="0 0 24 24" width="32" height="32" fill="currentColor"><path d="M17 10.5V7c0-.55-.45-1-1-1H4c-.55.0-1 .45-1 1v10c0 .55.45 1 1 1h12c.55.0 1-.45 1-1v-3.5l4 4v-11l-4 4z"/></svg></div><div class=unit-choice__label>Live</div><div class=unit-choice__desc>Not available</div></div></div></main><footer class=footer><p class=footer__copyright-notice>&copy; <a href=https://freedoms4.org>freedoms4.org</a> <a href=/changelog/>Changelog</a></p><p class=footer__theme-info>Built with <a href=https://gohugo.io>Hugo</a> and based on <a href=https://github.com/CyrusYip/hugo-theme-yue>Yue</a> theme</p></footer><script>(function(){var e=document.getElementById("theme-toggle");if(!e)return;function t(){var e=localStorage.getItem("theme");return e?e:window.matchMedia("(prefers-color-scheme: light)").matches?"light":"dark"}function n(e){document.documentElement.setAttribute("data-theme",e),localStorage.setItem("theme",e)}n(t()),e.addEventListener("click",function(){var e=document.documentElement.getAttribute("data-theme")||t();n(e==="dark"?"light":"dark")})})()</script><script>(function(){var e=document.getElementById("mobile-menu-check");if(!e)return;document.addEventListener("click",function(t){if(!e.checked)return;var n=e.closest(".brand__mobile-menu");n&&!n.contains(t.target)&&(e.checked=!1)})})()</script></body></html>

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<?xml version="1.0" encoding="utf-8" standalone="yes"?><rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom"><channel><title>Unit 5 on Freedoms4</title><link>https://freedoms4.org/uninotes/s1/et-dcm1107/unit5/</link><description>Recent content in Unit 5 on Freedoms4</description><generator>Hugo</generator><language>en-us</language><managingEditor>your-email@example.com (Freedoms4)</managingEditor><webMaster>your-email@example.com (Freedoms4)</webMaster><atom:link href="https://freedoms4.org/uninotes/s1/et-dcm1107/unit5/index.xml" rel="self" type="application/rss+xml"/><item><title>Unit 5</title><link>https://freedoms4.org/uninotes/s1/et-dcm1107/unit5/self/</link><pubDate>Mon, 01 Jan 0001 00:00:00 +0000</pubDate><author>your-email@example.com (Freedoms4)</author><guid>https://freedoms4.org/uninotes/s1/et-dcm1107/unit5/self/</guid><description>&lt;h3 class="heading" id="may-01-2026"&gt;
&lt;em&gt;&lt;strong&gt;May 01, 2026&lt;/strong&gt;&lt;/em&gt;&lt;span class="heading__anchor"&gt; &lt;a href="#may-01-2026"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;h2 class="heading" id="explicit-cost"&gt;
Explicit Cost&lt;span class="heading__anchor"&gt; &lt;a href="#explicit-cost"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;Explicit costs are direct, out-of-pocket payments that a business or individual makes for the use of resources or services. These costs are tangible, measurable, and recorded in accounting books, including expenses like rent, utility bills, wages, raw materials, and interest on borrowed capital.&lt;/p&gt;
&lt;h2 class="heading" id="implicit-cost"&gt;
Implicit Cost&lt;span class="heading__anchor"&gt; &lt;a href="#implicit-cost"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;Implicit costs are not directly paid out or recorded in financial statements, but represent the opportunity costs of using resources owned by the firm or individual. Examples include the forgone salary if an entrepreneur works in their own business instead of being employed elsewhere, or the interest income sacrificed by investing personal funds in the business rather than elsewhere.&lt;/p&gt;</description></item></channel></rss>

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