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When a decision is made among a number of alternatives the benefit that is lost by choosing one alternative over another is the?
Opportunity Cost
How do you calculate annual opportunity cost?
To calculate annual opportunity cost, identify the best alternative use of your resources, typically time or money, that you forgo when making a decision. Determine the potential returns or benefits associated with that alternative. Subtract any costs associated with pursuing that alternative from its expected returns to find the net benefit. The annual opportunity cost is then the forgone net benefit expressed on an annual basis.
A benefit profit or value of something that must be given up to acquire or achieve something else is known as..?
A benefit, profit, or value that must be given up to acquire or achieve something else is known as an opportunity cost. It represents the potential gains lost when one alternative is chosen over another. Understanding opportunity costs is crucial for making informed decisions, as it helps individuals and businesses evaluate the relative worth of different options.
What is external benefit?
An external benefit is a benefit that one person gains due to another person's actions
What is the purpose of using a cost benefit analysis?
You would use a cost-benefit analysis to see what the best approach would be to a problem. It helps you know what alternative is best in terms of effort, time, and cost.
When a decision is made among a number of alternatives the benefit that is lost by choosing one alternative over another is the?
Opportunity Cost
The potential benefit lost by choosing a specific action from 2 or more alternatives?
The potential benefit lost by choosing a specific action from 2 or more alternatives is known as opportunity cost. It refers to the value of the next best alternative that is forgone when a decision is made. Understanding opportunity cost helps in making more informed decisions by considering the trade-offs involved in choosing one option over another.
What is the benefit of being an olympic athlete?
The benefit of being an Olympic athlete might include fame and notoriety. Another benefit could include increased earning potential later in life due to that fame.
What benefit does cvs employees get with Toyota?
They can buy a Toyota as selected dealers for cost + 1%.
Alternatives to outsourcing?
Rural sourcing, where a company or organization hires from states with a cost of labor that equals to the cost of outsourcing offshore is another alternative. The benefit is obvious - zero language barrier.
What is another word for benefit?
another word for benefit is beneficial
A benefit profit or value of something that must be given up to acquire or achieve something else is known as..?
A benefit, profit, or value that must be given up to acquire or achieve something else is known as an opportunity cost. It represents the potential gains lost when one alternative is chosen over another. Understanding opportunity costs is crucial for making informed decisions, as it helps individuals and businesses evaluate the relative worth of different options.
What is external benefit?
An external benefit is a benefit that one person gains due to another person's actions
What is the number of species that benefit from mutualism?
both species benefit from one another.
What actors and actresses appeared in Another Goddamn Benefit - 1996?
The cast of Another Goddamn Benefit - 1996 includes: Kent Fuher
What are the benefits of having a 401k retirement plan?
A 401k retirement plan has many benefits. One benefit is that you have a chance to earn what is essentially free money. Typically out of every dollar paid it will be matched with 50 cents. Another benefit is that the vendor of the company selected to handle the 401k plan will deal with all accounting and testing needed.
What is the benefit of participating in NSTC Pakistan?
If u get selected,it luks good on your college application And of course,there' s the self esteem
