B2 to press or be pressed against something with a circular or up-and-down repeated movement: She yawned and rubbed her eyes sleepily. He rubbed (at) the stain on his trousers and made it worse. We rubbed some polish into the surface of the wood.
(Answer #1). Economic cost is a more comprehensive idea that accounting costs. Accounting costs only include what economists call explicit costs.. These are the amounts that a firm actually pays out to other people in the process of producing their product.ence, the difference between the economic cost and accounting cost is that the economic cost comprises the opportunity cost, while the accounting cost does not. Although the accounting costs are very important to company owners, the economists are mainly focused on economic costs rather than accounting costs.
Usually, the price also includes a mark-up for profit over the cost of production. More generalized in the field of economics, cost is a metric that is totaling up as a result of a process or as a differential for the result of a decision.Hence cost is the metric used in the standard modeling paradigm applied to economic processes.rivate costs are the costs that the buyer of a good or service pays the seller. This can also be described as the costs internal to the firm's production function. External costs (also called externalities), in contrast, are the costs that people other than the buyer are forced to pay as a result of the transaction.