Lesson Summary. There are two types of costs that must be considered by a business: explicit costs and implicit costs. Explicit costs are easier to analyze as they are expenses that require a payment and have an amount that can be calculated.
All-American beer brands that foreign companies now own, such as Budweiser, have defied expectations of marketing experts and continued to exploit patriotic emotions and imagery to sell their products, reports Ad Age. Belgian-Brazilian adult-beverage giant InBev bought Budweiser parent company Anheuser-Busch in 2008 for $52 billion.
Anheuser-Busch, the company behind both Budweiser and Beck's, has agreed to settle a class-action lawsuit. The plaintiffs claim the megabrewer misled customers by trumping up Beck's German roots and insinuating that it was an imported beer. Now, for more than 100 years, Beck's has been brewed in Germany. But in 2002, the company was bought up by big international brewers, eventually becoming part of Anheuser-Busch InBev, based in Belgium. And, since 2012, Beck's has also been made in St. Louis, which is definitely not in Germany. Which means the Beck's you buy in the U.S. is definitely not an import. But, the lawsuit claims, that didn't stop Anheuser-Busch from charging import prices. On Tuesday, a judge gave final approval to the settlement terms.