Opportunity cost: Determining whether a purchase is a need or a want and realizing that once the money has been spent, it is gone.
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
Are, not is. *How ARE poverty and opportunity related?*
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
Opportunity cost is something for the next porpose.
No, scarcity, choice and opportunity are not related to cost. All of these aspects of business are related to availability. Sometimes, costs plays a role though.
Opportunity cost: Determining whether a purchase is a need or a want and realizing that once the money has been spent, it is gone.
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
Are, not is. *How ARE poverty and opportunity related?*
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
DAU Class correct answer: Making tradeoffs in performance and schedule to acheive cost objectives within affordability constraints.
Opportunity cost is something for the next porpose.
The cost of an alternative that must be forgone in order to pursue a certain action. Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative forgone (that is not chosen). It is the sacrifice related to the second best choice available to someone. Opportunity cost is a key concept in economics, and has been described as expressing "the basic relationship between scarcity and choice". The notion of opportunity cost plays a crucial part in ensuring that scarce resources are used efficiently.
operational capability
Yes, opportunity cost is a relevant cost because it can be used in something more productive.
Tradeoffs in cost involve examining the development of alternative designs, _________________ and the required industrial base capability.
Opportunity cost is what you give up in order to get something else. Paying money is the opportunity cost for ice cream for example.