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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 the transaction called when money is given in exchange for goods or services?
A purchase.
A trade-off is an exchange in which one benefit is given up in order to obtain another?
yes
What is trading in country and trading with country?
Trading in country means that the exchange of goods and services takes place within one given country. Trading with country on the other hand means you exchange goods and services with a different country.
What is the definition of favor?
To favour something is to prefer it. To do someone a favour means to do something for them without being paid for it. A "party favour" is something given away at parties.
What does the term sales mean?
The term sales means that something is given to someone in exchange for money. This could be goods or services.
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.
How do you use the word procured in a sentence?
How can the Parent Teacher Organization procure funds for additional playground equiptment? Squirrels work all hard to procure enough food for the winter. The students sponsored a pancake breakfast to procure funds for the class trip. It is the social worker's job to procure food items for the Thanksgiving baskets given to needy families each year. If the pastor can't procure enough money, church renovations will be put off until next spring.
What is something of legal value that must be given by each party in exchange for what was promised or given by the other?
Something of legal value that must be given by each party in exchange for what was promised is known as "consideration." Consideration can take the form of money, services, goods, or an agreement to refrain from a specific action. It is essential for a contract to be enforceable, as it ensures that both parties are providing something of value in the transaction. Without mutual consideration, a contract may be deemed void or unenforceable.
What type of noun is price?
The noun 'price' is a singular, common, abstract noun; a word for a something given in exchange for something else, cost, value, worth; a thing.
Details about the dowry system?
A dowry system is something that is used often in India. This is where gifts are given to a bridegroom's family in exchange for the bride to be married to the man.
What words or phrases means an equal exchange or substitution?
Quid pro quo Apexx Suxx Without Cheatxx XD
How did penn acquire the land west Delaware?
It was given to him by the king of England for favors done.
What are synonyms for receive?
accept, acquire, admit, apprehend, appropriate, arrogate, assume, be given, be in receipt of, be informed, be told, catch, collect, come by, come into, cop*, corral*, derive, draw, earn, gain, gather, get, get from, get hands on, get hold of, grab, hear, hold, inherit, latch on to, make, obtain, perceive, pick up, pocket*, procure, pull, pull down*, reap, redeem, secure, seize, snag*, take, take in, take possession, winSynonyms for the verb receive could include - accept, acquire, seize, or take.
Can you bequeath something in your will that you no longer possess?
No, you cannot bequeath something in your will that you no longer possess at the time of your death. A will can only distribute assets that are part of your estate at that time. If you have sold, given away, or otherwise disposed of an item, it cannot be included in your will. However, you can specify a replacement or similar item if you plan to acquire something new before your passing.
Failing to use the word consideration in an agreement means that no consideration has been given?
Consideration can be anything of value (such as an item or service), which each party to a legally binding contract must agree to exchange if the contract is to be valid. If only one party offers consideration, the agreement is not legally a binding contract. In its traditional form, expressed as the requirement that in order for parties to be able to enforce a promise, they must have given something for it (quid pro quo): something must be given or promised in exchange or return for the promise. Therefore, the word itself does not have to be used.
What is the true motivation of consideration?
Consideration is the benefit received by each party in a contract in exchange for something given or promised. It ensures that each party is bound by a mutual exchange, making the contract legally enforceable. It also demonstrates a commitment by both parties to fulfill their respective obligations.
