Opportunity Cost Is Best Described as ____

The opportunity cost is the value of the next best alternative foregone. A company receives when services are bought B.

1 2 Opportunity Costs Sunk Costs Principles Of Microeconomics

Opportunity cost is a key concept in economics described as the fundamental relationship between scarcity and choice.

. B The cost of losing an order to a competitor. In short opportunity cost is all around us. In short opportunity cost is the value of the next best alternative.

Opportunity Cost returns on best Forgone Option - returns on Chosen Option The opportunity cost of mowing ones own lawn for a doctor or a lawyer. An opportunity cost may be described as a the correct measure of cost. D The cost incurred in training new staff.

D All of these responses are correct. D Expected future costs that differ among alternatives. Opportunity cost is one of the key concepts in the study of economics and is prevalent throughout various decision-making processes.

The opportunity cost of choosing this option is 10 to 0 or 10. The next best thing that a person can engage in is referred to as the opportunity cost of doing the best thing and ignoring the next best thing to be done. Assume that the firm described above has invested.

Opportunity cost is best described by which of the following. Ob the value of the next best alternative. In simple terms opportunity cost is the benefit not received as a result of not selecting the next best option.

A person gets as a result of working for a company. Financial Accounting Financial Management Financial Systems Implementation. B Costs that were incurred in the past and cannot be changed.

Direct expenses incurred in producing goods. Hendikeps2 and 8 more users found this answer helpful. Oc the opportunity foregone.

For the sake of simplicity assume that the investment yields a return of 0 meaning the company gets out exactly what is put in. Resources are scarce but once are unlimited people must make choices. The lowest-valued alternative use of the students time.

C The cost involved in seeking new opportunities. A Benefits foregone by choosing a particular alternative course of action. Total difference in cost of production between two divisions.

Question 9 2 points The opportunity cost of going to college might best be described as 00 1. The money that must be paid in order to attend college. An example If you have an apple and an orange and you choose the apple the opportunity cost is the orange.

Pricing of goods as per market trends. Opportunity cost is bestdescribed as the. A most expensive resource used inproductionB Sum of all production costsC Value of the best alternativeforgone when a choice is madeD Monetary value of allalternatives forgone when achoice is made 78.

The highest-valued alternative use of the students time. The benefit that is forgone for one alternative in order to pursue another alternative. A company receives when goods are purchased C.

The idea behind opportunity cost is that the cost of one item is the lost opportunity to do or consume something else. In short opportunity cost is the value of the next best alternative. What is opportunity cost of competition.

The value of what must be given up. A The cost of an alternative course of action. Benefits foregone by choosing a particular alternative course of action Costs that were incurred in the past and cannot be changed The distribution of all products to be sold Expected future costs that differ among alternatives Question 2.

The term OPPORTUNITY COST is best described as something that A. In simplified terms it is the cost of what else one could have chosen to do. View the full answer Transcribed image text.

1The economic value of what is given up when a person chooses one option over another 2The economic value derived from the chosen opportunity 3The cost of analyzing various opportunities 4The amount of money required to invest in an opportunity 5All the financial and non-financial costs in relation. Opportunity Cost the cost of the next best alternative use of money time resources when one choice is made rather another. An opportunity cost can best be described as the.

A person gives up when a choice is made D. The value that the student attaches to not working. Since people must choose they inevitably face trade-offs in which they have to give up things they desire to.

The idea behind opportunity cost is that the cost of one item is the lost opportunity to do or consume something else. C The distribution of all products to be sold. 11 An opportunity cost is best described by which of the following.

Since people must choose they inevitably face trade-offs in which they have to give up things they desire to get other things they desire more. Opportunity cost in management accounting is best described as. Basic Economic Problem scarcity.

An opportunity cost may best be described as which of the following. Opportunity cost is a key concept in economics and has been described as expressing the basic relationship between scarcity and choice. Expert Answer 100 1 rating An opportunity cost may be describ.

Opportunity Cost Fill In The Blanks We Have Wants And Needs We Have Resources Therefore We Must Make Ppt Download

1 2 Opportunity Costs Sunk Costs Principles Of Microeconomics

Opportunity Cost The Production Possibilities Curve Ppc Article Khan Academy

Opportunity Cost Flip Book If I Choose Opportunity Cost Social Studies Classroom Third Grade Social Studies