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Opportunity cost is an objective measure of cost s true or false explain?
false. Oppurtunity cost is the cost of the next best choice you might make. For example you have five dollars. You can go to the theater and see a movie (in the past) for the full five dollars or you can go out to eat. If you choose to go to the theater but would have gone out to eat if you decided not to then the oppurtunity cost of going to the theater was not going out to eat. This can not be objective because there is no way to say for sure what the next best choice is going to be for anyone. Perhaps you would have bought pink fluffy slippers if you could not go to the theater. Perhaps someone else will miss studying for a test. If can not be guessed. Only the person themself can be able to decide what their oppurtunity cost is.
Explain with the help of production possibility diagram the concept of opportunity cost?
Opportunity cost is the amount you might lose if you do not take the opportunity. You can write out the graph or find examples online.
What is the law of decreasing opportunity cost?
To produce an additional unit of a commodity a nation has to forego lesser and lesser amount of other commodity is known as decreasing opportunity cost.
What is the law of decreasing opportunity cost theory?
To produce an additional unit of a commodity a nation has to forego lesser and lesser amount of other commodity is known as decreasing opportunity cost.
Why high marketing cost of farm commodities?
because of 1) long marketing channels 2) paricibility of the commodity 3) need in daily use of commodity among common peapole
Opportunity cost is an objective measure of cost s true or false explain?
false. Oppurtunity cost is the cost of the next best choice you might make. For example you have five dollars. You can go to the theater and see a movie (in the past) for the full five dollars or you can go out to eat. If you choose to go to the theater but would have gone out to eat if you decided not to then the oppurtunity cost of going to the theater was not going out to eat. This can not be objective because there is no way to say for sure what the next best choice is going to be for anyone. Perhaps you would have bought pink fluffy slippers if you could not go to the theater. Perhaps someone else will miss studying for a test. If can not be guessed. Only the person themself can be able to decide what their oppurtunity cost is.
Explain with the help of production possibility diagram the concept of opportunity cost?
Opportunity cost is the amount you might lose if you do not take the opportunity. You can write out the graph or find examples online.
What is the law of decreasing opportunity cost?
To produce an additional unit of a commodity a nation has to forego lesser and lesser amount of other commodity is known as decreasing opportunity cost.
What is the law of decreasing opportunity cost theory?
To produce an additional unit of a commodity a nation has to forego lesser and lesser amount of other commodity is known as decreasing opportunity cost.
What is the most expensive commodity in cote divoire?
the most expensive commodity in cote divoire is called framage. it cost ?$1,000,000,000,000,000,000.
What is the definition of scarcity?
Scarcity is the lack of availability of something. ie. petrol oppurtunity cost is the next best alternative
Why retained earning does not have explicit cost?
because in reatined earning there is available of oppurtunity costs a beautul examples of Fd and savings as to aquire growing income by getting rate of interest as due to the inflationary and economical parameters. as we all know that the saving is also cost of oppurtunity to modify the explicit cot but not as retained earning vis vis ....
With a neat block diagram explain the importance of water fall model?
The imporance of this model is that it allows for communication beween the customer and the software developer and specifis what,when the product will be delivered,and at what cost.
Explain cost center in the context of Cost Management Accounting?
Explain cost center in the context of cost accounting
Where is the 1994 Chevy Corsicas motor mounts all located on the vehicle Do you have a diagram or explain if not?
GO TO ALLDATA.COM. IT COST $14.95 A YEAR BUT WELL WORTH THE COST, WILL PAY FOR ITSELF THE FIRST TIME YOU USE THE INFO. T HEMPLE
Tax on oppurtunity cost?
An opportunity cost is a theoretical calculation of how much money you might have made if you had done something other than what you actually did. I do not know of any taxes on theoretical calculations.
How does pricing affect new product?
low rate of a new commodity help to increase its demand ,but the cost of the commodity must keep a relationship with the cost of its substitutes ,which help to attain substitute demand.If the product is part of status maintenance ,can give higher cost because it is effen goods
