Yes exactly, outsourcing can create opportunity cost for both virtual assistant and employer. suppose employer belongs to a high valued currency's country and virtual assistant belongs to a low valued currency's country so in this situation employer will get easily an employer for his business on low cost as compare to physical employee.
Opportunity cost: Determining whether a purchase is a need or a want and realizing that once the money has been spent, it is gone.
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
Opportunity cost is something for the next porpose.
The cost of an alternative that must be forgone in order to pursue a certain action. Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative forgone (that is not chosen). It is the sacrifice related to the second best choice available to someone. Opportunity cost is a key concept in economics, and has been described as expressing "the basic relationship between scarcity and choice". The notion of opportunity cost plays a crucial part in ensuring that scarce resources are used efficiently.
There is no fixed amount of charges of for virtual assistants. The cost depends of on the nature of services being obtained and served. But, the cost of virtual assistant is for lesser than the cost of permanent employees.
No, scarcity, choice and opportunity are not related to cost. All of these aspects of business are related to availability. Sometimes, costs plays a role though.
Virtual assistants can be anywhere by internet and the services they provide range from professional administrative, technical, personal, or creative assistance. You as an employer do not have to worry about employee related cost. The best way to get virtual assistant obviously is internet and virtual assistant service provider websites.
Opportunity cost: Determining whether a purchase is a need or a want and realizing that once the money has been spent, it is gone.
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
Opportunity cost is something for the next porpose.
The cost of an alternative that must be forgone in order to pursue a certain action. Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative forgone (that is not chosen). It is the sacrifice related to the second best choice available to someone. Opportunity cost is a key concept in economics, and has been described as expressing "the basic relationship between scarcity and choice". The notion of opportunity cost plays a crucial part in ensuring that scarce resources are used efficiently.
Yes, opportunity cost is a relevant cost because it can be used in something more productive.
Opportunity cost is what you give up in order to get something else. Paying money is the opportunity cost for ice cream for example.
Opportunity Cost can vary depending on what you are giving up exactly.
As we decide to choose more units of anything, the opportunity cost of each additional unit will rise. This means that the opportunity cost of the second unit will be greater than that of the first unit. The opportunity cost of the third unit will be greater than that of the second unit. And so forththe law of opportunity cost states that the more of a product that is produced,the greater is its opportunity cost,hence increasing marginal opportunity cost in simple terms refers to an extra or additional opportunity cost of foregoing other products to produce a unit of another product