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Why does opportunity cost vary?
Opportunity Cost can vary depending on what you are giving up exactly.
What is the opportunity cost of the war in Iraq?
"Opportunity cost" could be opportunities for US/Iraqi contract employment for bettering their nation.
What was the benefit of the soviet union decision to concentrate on heavy industry What was the opportunity cost and who paid it?
The opportunity cost were the consumer goods and services.
Define opportunity costs?
The cost of passing up the next best choice when making a decision. For example, if an asset such as capital is used for one purpose, the opportunity cost is the value of the next best purpose the asset could have been used for. Opportunity cost analysis is an important part of a company's decision-making processes, but is not treated as an actual cost in any financial statement.
What is opportunity costs?
Opportunity cost is the highest-valued alternative foregone in order to take an economic action.
What is the opportunity cost of saving the habitat of the spotted owl?
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What is opportunity cost and opportunity benefit?
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
Is it possible to incur opportunity cost without spending any money?
Opportunity cost can also deal with time. For example, shopping at Wal-mart versus shopping at sears, Khols, and giant eagle will lower your opportunity cost. At Wal-mart you'll be able to find many of the items you'd typically be looking for when shopping (whether they are better or not is up to you). My point is that from this example, your opportunity cost is lower shopping at W-mart because you are saving time. In my opinion, opportunity cost means "time is money."
What does the word opportunity cost means?
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
What calculates the opportunity cost?
Opportunity cost is something for the next porpose.
Is opportunity cost a relevant cost?
Yes, opportunity cost is a relevant cost because it can be used in something more productive.
What do you understand by the term opportunity cost?
Opportunity cost is what you give up in order to get something else. Paying money is the opportunity cost for ice cream for example.
Why does opportunity cost vary?
Opportunity Cost can vary depending on what you are giving up exactly.
What is cost saving?
If something is saving cost it means that you are not spending as much money. Packing a lunch is cost saving because you are not spending as much money to eat lunch out.
What are some examples of opportunity cost in decision-making processes?
Opportunity cost refers to the benefits that are forgone when choosing one option over another. Examples of opportunity cost in decision-making processes include choosing to study for a test instead of going out with friends, investing in stocks instead of saving money in a bank account, or spending time volunteering at a charity instead of working a part-time job for extra income.
What is the difference between constant opportunity cost and increasing opportunity cost?
Real cost is the price which is real not a fake price
Why do you need to understand Opportunity cost?
Opportunity cost is fundamental in understanding the true economist cost (and thus profitability) of actions.
