Answer:
Explanation:
Opportunity cost is the cost of missing out on the next best alternative. In other words, opportunity cost represents the benefits that could have been gained by taking a different decision.
All businesses have to make choices - and those choices have implications.
In business, resources are usually scarce or limited. Decision are made under circumstances of uncertainty and taking one course of action or decision may affect business ability to take an alternative action.
Opportunity cost measures the cost of a choice made in terms of the next best alternative foregone or sacrificed.
Examples of Opportunity Cost in the Business & Economic Environment
Work-leisure choices
The opportunity cost of deciding not to work an extra ten hours a week is the lost wages given up.
Government spending priorities
The opportunity cost of the government spending an extra £10 billion on investment in National Health Service might be that £10 billion less is available for spending on education or defence equipment.
Investing today for consumption tomorrow
The opportunity cost of an economy investing resources in new capital goods is the production of consumer goods given up for today.
Use of scarce farming land
The opportunity cost of using farmland to grow wheat for bio-fuel means that there is less wheat available for food production, causing food prices to rise
Trade-offs
A trade-off arises where having more of one thing potentially results in having less of another. The table below lists some examples of how trade-offs often arise in business - as a result of resource scarcity.
The answer is A: James (the son of Zebedee)
The problems that have arisen from the equal employment opportunity legislation are that there will be a decrease in diversity.
Equal employment opportunity means there should not be any dispensaries while providing employment to people. There will always be a group of people who will be selected from the interviewees. This will decrease the diversity that is required in an organization. So equal opportunities do not come automatically but will have to be worked at.
Many organizations may require people that have certain skills to perform the job. So then in these cases, equal employment opportunities cannot be provided. However, the main feature or fact is that the employees and employers must work together to create such a culture in which there is no discrimination of any kind and everyone gets equal opportunity.
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The radical American group which first emerged during the stamp act crisis was known as sons of liberty.
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What was stamp act crisis?</u></h3>
- The colonial populace strongly objected to the legislation, which resulted in coordinated protests that gave the revolution movement practical experience and helped establish a pattern of resistance that eventually led to American independence.
- Americans contended that there was a difference between taxing them for money and taxing them to regulate trade during the Stamp Act controversy. They argued that Britain lacked the right to tax them in order to raise money.
- The phrase "No taxation without representation" is the source of the colonies' refusal to paying taxes. They thought that when they paid taxes, the government took their private property and that they would only be able to do this with the consent of their constituents.
The Sons of Liberty was a loosely structured, covert, occasionally violent political group active in the Thirteen American Colonies that was established to advance colonist rights and oppose British government taxation.
In most colonies, it was a key factor in the fight against the Stamp Act of 1765.
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