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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 else can I help you with?
What are the qualities of an opportunity and why is each quality important?
The qualities of an opportunity is very important because they help maintain and develop the positive minds. A business mind is one of the qualities of an opportunity.
Why equality important in democracy?
Equal Opportunity
Why Equal Employment Opportunity is important in today's work environment?
equal employment has equal race opportunity.
Why is attachment important?
It offers you the opportunity to acquire practical skills
Do voters have an opportunity to vote on important issues as well as candicates?
In many places, voters have the opportunity to vote on important issues, but in many other places, voters only vote for candidates.
Why was the addition of land important to Thomas Jefferson's?
It wasn't important to him, but the opportunity came up and he took it.
Do you consider important to learn English?
I do consider it important to learn English because the whole continent of North America does. America is called the land of opportunity, and in order to have that opportunity you need to speak english.
Why is industrial attachment important?
It offers you the opportunity to acquire practical skills
Why are cartago and heredia Important to Costa Rica?
Tourism,Malls and job opportunity.
Which is the result when the benefits of a decision are greater than the opportunity cost of that decision?
It would be helpful to know what the decision is to know what the benefits and opportunity of the decision are. It is important to include this information.
Why is human resources important to the development of industry?
How the opportunity cost can be applied to the production process for the allocation of resources. How the opportunity cost can be applied to the production process for the allocation of resources.
Is mechanical or civil better?
Your talent is more important then your next opportunity. If you have anything on your progress
