anything you give up in order to obtain something else. It can be your time when choosing between going to that ball game or studying for your exam. If you go to the ball game the cost was giving up time to study.
Opportunity cost is crucial for individuals as it helps them make informed decisions by evaluating the potential benefits of alternative choices. By understanding what they forgo when choosing one option over another, individuals can better prioritize their resources, time, and efforts to maximize satisfaction and utility. This concept encourages critical thinking and enhances decision-making skills, ultimately leading to more efficient personal and financial outcomes.
yes..depreciation cost is the variable cost..
Average Variable Cost = Total Variable Cost/ Quantity Average Cost = Average Fixed Cost + Average Variable Cost Average Cost = Total Cost/Quantity
nit cost is the average cost of making a product and cost per unit is the marginal cost
WHAT IS THE NATURE OF COST? WHAT IS THE NATURE OF COST?
when the oppotunity cost is a constant the PPF will be a stright line
She moved to a larger city hoping to find better opportunities for employment.
I studied this in economics this year opportunity cost is the sacrifice of not choosing the second best option so if you wanted to buy a flat and you found a pleasant one or a fancy apartment and you chose the apartment the flat would be your opportunity cost
Iam a Somaliland University Student, so i would like to ask a question of. the oppotunity of the Somaliland business sector
you can make friends/mate and you can do something like aqua jogging with your friends while talking. its a great oppotunity to get some exercise while talking to your friends.
Because many shops were destroyed it was an oppotunity fro people to take anything which was not harmed due to that there was no security because of the shops which were destroyed
no one....peters and lee won 7 times in a row on opp. knocks and set a record that wasn't broken till Bernie flints win.
Scarcity is the concept of finite resources in a world of infinite needs and wants. Economics assumes people are greedy and always haveneeds and wants. However, there is only a certain amount of most goods.Therefore, people are forced to choose among their needs and wants,because Mother Nature does not satisfy our needs and wants infinitely.Scarcity encompasses these choices.
I like this girl whos friend came and asked me if i liked my crush, which from my experience means that my crush likes me. WHAT DO I DO???? IM 13 this is my first oppotunity to get a girlfriend that i like. HELP!!
The opportunity that Mars represents for Earth is expansion. It is believed that people from Earth may one day be able to visit or live on Mars. It represents an amazing exploration opportunity.
Esurance online will offer you quotes from several reputable insurance companies. This will afford you an oppotunity to compare rates and choose the one that best fits your insurance needs and budget.
Well start of by going to community theatre club often they will can give you the oppotunity to be on stage or go for auditions you may get a major part and go on to get bigger parts and eventually you could go to film school