0
Opportunity cost is the phrase used to describe the best alternative given up by a particular decision. The term is often associated with economics.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
What is a moral stance?
A Moral stance is your attitude or view point that helps you make a decision. That decision can be based on three things: Religious Authority - following what you religion advices you to do. Egoism - Doing what is best for yourself. Utilitarianism - Doing what is best for the majority of people, but not all.
What were the nicknames for the North Soldiers in the American Civil War?
The most common and politically correct nickname for African-American soldiers was "buffalo soldiers." This was the name given to a particular unit of the Union Army that was composed of African-Americans, but it was borrowed by others.
What is the best military paid job?
Chief of Staff of the Army--a four-star general. As far as particular positions go, soldiers are paid by their rank and not by what they do--a doctor who is a captain will make less money than a lieutenant colonel who is in charge of a maintenance battalion.
How was the world affected by The Battle of Midway?
Because the IJN's best Torpedo Bomber, Dive Bomber, and Fighter Aircrewmen were killed at Midway; those particular airmen would not be able to kill or destroy allied Aircraft Carriers, Battleships, Cruisers, Destroyers, Landing Ships, Transport Ships, Supply Ships, Submarines, or any other allied vessels afloat during the future (post Midway) battles of WWII. If those particular airmen had lived and fought on...then post Midway battles would have been FAR BLOODIER than they ended up being.
What is a good title for world war ii?
I like this title for World War 2: The War Fought by the Best Generation of The 20th Century. They have been given that label and it is the absolute truth. My dad fought in that war and there has yet to be another generation like them.
What The best alternative given up by a particular decision.?
Opportunity cost is the phrase used to describe the best alternative given up by a particular decision. The term is often associated with Economics.
The best alternative given up by a particular decision?
oppertunity cost
The best alternative given up when making a certain decision?
Financial planning - A strategy to save for financial goals. Opportunity cost - The best alternative given up when making a certain decision. Risk aversion - Reluctance for taking chances. Utility - Personal satisfaction gained from consumption.
When one decision is made the next best alternative decision not selected is called?
Opportunity Cost
When one decision is made the next best alternative not selected is called?
Opportunity Cost
What does the phrase best bet mean?
"Best bet" is an idiomatic expression that refers to the most advantageous or favorable option among a set of choices. It suggests that selecting that particular option is the wisest decision given the circumstances.
What do economists call the next best alternative?
Economists call opportunity cost the next best alternative that has been given up. This is the cost of forgoing something and picking an alternative like using college fees to start a business.
What do economits call the next best alternative that to be given up for the one chosen?
opportunity cost
The value of the next best alternative given up to obtain an item is called?
Oppurtnity cost
What do economists call the next best alternative that had to be given up for the chosen one?
opportunity cost
The next best choice that is given up when a decision is made is called?
opportunity cost
What do economists the next best alternative that had to be given up for the one chosen?
opportunity cost
