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Why are there always opportunity costs when we shift from making one product to another?
Wiki User
∙ 12y ago
some resources are better suited for use in making the first product.
Wiki User
∙ 12y ago
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Why are there always opportunity costs when we shift from making one to another?
some resources are better suited for use in making the first product.
What is the best definition of opportunity cost?
The benefits lost when making one choice over another
What is the difference between real cost and opportunity cost?
Actual cost (real cost): Are those which are actually incurred by the firm in payment for labor, material, plant, building, machinery, equipment ,etc. Opportunity cost: The opportunity cost is the opportunity lost. An opportunity to make income is lost because of scarcity of resources like land, labor, capital etc., or the making of one decision over another decision.
An opportunity cost is defined as?
The cost of passing up the next best choice when making a decision. For example, if an asset such as capital is used for one purpose, the opportunity cost is the value of the next best purpose the asset could have been used for. Opportunity cost analysis is an important part of a company's decision-making processes, but is not treated as an actual cost in any financial statement.
Does the economic opportunities conflict the Eskimo's traditional way of life?
To answer that question I must state another fact. The new income opportunity for the Eskimos has to do with the fact that there has been gold found in Alaska: they could start mining jobs there. However, this opportunity conflicts with their traditional way of life. How? The Eskimo people have always hunted Salmon, and mining gold would destroy their natural habitat, therefore making it impossible to hunt them like the Eskimos have for hundreds of years.
Why are there always opportunity when we shift from making one product to another?
some resources are better suited for use in making the first product.
Why are there always opportunity costs when shift from making one product to another?
some resources are better suited for use in making the first product.
Why are there always opportunity costs when we shift from making one to another?
some resources are better suited for use in making the first product.
What is comparative marketing?
This is marketing where the competitor slogan or product is mentioned for the purpose of making another product stand out or be perceived as better. This can work both ways as people don't always look favorably on a company that slams another.
How does a factor contribute to the making of a product?
It multiples with another factor and creates a product.
the potential economic benefits that are lost by making one choice instead of another are called what?
Opportunity costs
Is Adele making another album?
Adele is always making albums and songs. Just keep looking on iTunes.
What is the best definition of opportunity cost?
The benefits lost when making one choice over another
Whats the difference between sex and making love is it always clear which one is being done?
Making love is just another term for sex.
What is the difference between real cost and opportunity cost?
Actual cost (real cost): Are those which are actually incurred by the firm in payment for labor, material, plant, building, machinery, equipment ,etc. Opportunity cost: The opportunity cost is the opportunity lost. An opportunity to make income is lost because of scarcity of resources like land, labor, capital etc., or the making of one decision over another decision.
An opportunity cost is defined as?
The cost of passing up the next best choice when making a decision. For example, if an asset such as capital is used for one purpose, the opportunity cost is the value of the next best purpose the asset could have been used for. Opportunity cost analysis is an important part of a company's decision-making processes, but is not treated as an actual cost in any financial statement.
How is a viral replication similar to the making of a product in a factory How does it differ from the making of a product in a factory?
doesnt have all materials
