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What is the opportunity cost of a pair of levi's jeans you bought to wear to work?
The Dollar Value
What is the opportunity cost of choosing to work instead of attending school?
The opportunity cost of choosing to work instead of attending school is the potential benefits and opportunities that could have been gained from getting an education, such as higher earning potential, career advancement, and personal development.
What might have been the opportunity cost for some one who went to Jamestown as an indentured servant?
they were forced to work in Jamestown
What is the opportunity cost of watching the cricket match?
Opportunity Cost: if you are doing any work and getting money at 10$ per hour for seven hour then if you stop working and start watching cricket match then you lost those 70 $ by watching that cricket match so at that moment opportunity cost of watching match is 70 $ for you which you lost due to cricket match.
How does opportunity cost work and impact decision-making?
Opportunity cost refers to the value of the next best alternative that is forgone when a decision is made. When making decisions, individuals and businesses must consider the opportunity cost of choosing one option over another. This helps in weighing the benefits and drawbacks of each choice and making informed decisions that maximize utility or profit. By understanding opportunity cost, decision-makers can make more efficient choices that align with their goals and priorities.
What is a opprotunity cost?
The cost of an alternative that must be forgone in order to pursue a certain action. Put another way, the benefits you could have received by taking an alternative action. For example if you are doing work already and earning 10 and you have a new opportunity to start new project with return of 11 then 10 already you are earning is your opportunity cost to start new project.
What is the opportunity cost of a pair of levi's jeans you bought to wear to work?
The Dollar Value
What can someone aspiring to be a doctor do during vacation?
Look into taking some EMT training or work experience.
What is the opportunity cost of choosing to work instead of attending school?
The opportunity cost of choosing to work instead of attending school is the potential benefits and opportunities that could have been gained from getting an education, such as higher earning potential, career advancement, and personal development.
What might have been the opportunity cost for some one who went to Jamestown as an indentured servant?
they were forced to work in Jamestown
What are the 5 PEC's of achievement cluster?
Opportunity Seeking Persistence Commitment to the Work Contract Demand for Efficiency and Quality Risk Taking
What is the opportunity cost of watching the cricket match?
Opportunity Cost: if you are doing any work and getting money at 10$ per hour for seven hour then if you stop working and start watching cricket match then you lost those 70 $ by watching that cricket match so at that moment opportunity cost of watching match is 70 $ for you which you lost due to cricket match.
How does opportunity cost work and impact decision-making?
Opportunity cost refers to the value of the next best alternative that is forgone when a decision is made. When making decisions, individuals and businesses must consider the opportunity cost of choosing one option over another. This helps in weighing the benefits and drawbacks of each choice and making informed decisions that maximize utility or profit. By understanding opportunity cost, decision-makers can make more efficient choices that align with their goals and priorities.
Explain why cost benefit analysis is a subjective process?
When you are trying to make a cost benefits analysis, you have to weigh the pro's and con's of every option; these are called opportunity costs, opportunity costs are what you choose NOT to buy. The cost, is that you did NOT get this, the opportunity is what you got instead. It is a subjective process due to the fact that it is an individually variable process; what I mean by this is, if 2 people have the same option to either have a car or a house, 1 guy picks the house so he will have shelter and he has a job that is really close to home, so walking or taking a bus wont cost much (walking and taking the bus is what he has to do, having the house is his opportunity, Not getting the car and having to walk/ride the bus is his cost). Now, the next man works very far into town, so taking a bus or walking is too expensive and too time consuming, so he will get the car and not the house, now he has the car and transport too work, but no house, so he will have to rent an apartment. These 2 men had the same options, but they made different decisions bc they had a different viewpoint and the opportunity costs were different to them. So, this is subjective because it has to do with personal needs that differ from person to person, even if the options are the same for everyone.
Explain why cost-benefit analysis is a subject process?
When you are trying to make a cost benefits analysis, you have to weigh the pro's and con's of every option; these are called opportunity costs, opportunity costs are what you choose NOT to buy. The cost, is that you did NOT get this, the opportunity is what you got instead. It is a subjective process due to the fact that it is an individually variable process; what I mean by this is, if 2 people have the same option to either have a car or a house, 1 guy picks the house so he will have shelter and he has a job that is really close to home, so walking or taking a bus wont cost much (walking and taking the bus is what he has to do, having the house is his opportunity, Not getting the car and having to walk/ride the bus is his cost). Now, the next man works very far into town, so taking a bus or walking is too expensive and too time consuming, so he will get the car and not the house, now he has the car and transport too work, but no house, so he will have to rent an apartment. These 2 men had the same options, but they made different decisions bc they had a different viewpoint and the opportunity costs were different to them. So, this is subjective because it has to do with personal needs that differ from person to person, even if the options are the same for everyone.
Why is cost benefit analysis a subjective process?
When you are trying to make a cost benefits analysis, you have to weigh the pro's and con's of every option; these are called opportunity costs, opportunity costs are what you choose NOT to buy. The cost, is that you did NOT get this, the opportunity is what you got instead. It is a subjective process due to the fact that it is an individually variable process; what I mean by this is, if 2 people have the same option to either have a car or a house, 1 guy picks the house so he will have shelter and he has a job that is really close to home, so walking or taking a bus wont cost much (walking and taking the bus is what he has to do, having the house is his opportunity, Not getting the car and having to walk/ride the bus is his cost). Now, the next man works very far into town, so taking a bus or walking is too expensive and too time consuming, so he will get the car and not the house, now he has the car and transport too work, but no house, so he will have to rent an apartment. These 2 men had the same options, but they made different decisions bc they had a different viewpoint and the opportunity costs were different to them. So, this is subjective because it has to do with personal needs that differ from person to person, even if the options are the same for everyone.
Can an employer force you to work if you are on vacation?
IF you mean can it cancel your vacation and schedule you to work, then yes.
