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4 years ago

Which best describes an opportunity cost?

Business

2 answers:

12345 [234]4 years ago

4 0

Opportunity cost is giving up an opportunity to do something else when making an economic decision.

olya-2409 [2.1K]4 years ago

3 0

Opportunity cost is best described as below:

Giving up an opportunity to do something else when making an economic decision.

In simple words, when there are two or more options in front of a person while making a decision, and he takes one of them by keeping something in mind and leave the other ones, then he is losing the opportunity of having the other alternative. This losing cost is actually the Opportunity Cost. It is basically the loss of one option while choosing the other one.

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A flow chart as part of a six-sigma quality improvement process might be found in which DMAIC category? A. DefineB. MeasureC. An

tiny-mole [99]

Answer:

The correct answer is a) Define

Explanation:

In the define step, the information about business problem, goals, project scope, potential resources, objectives, and potential teams are placed in a project charter document.

5 0

3 years ago

Suppose that the office of management and budget provides the accompanying estimates of federal budget receipts, federal budget

spin [16.1K]

We need to <span>provide the accompanying estimates of federal budget receipts, federal budget spending, and gdp, all expressed in billions of dollars</span>.

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3 years ago

What is the meant byTQM

ch4aika [34]

TQM is Total Quality Management, it's describe as a management approach to long-terms success for customer service or satisfaction.

5 0

3 years ago

Read 2 more answers

Dr. Shetty is able to drive down the cost of complex medical procedures from $100,000 to $2,000 not by doing one big thing, but

melomori [17]

Answer:

C. Process Innovation.

Explanation:

As Dr. Shetty is able to drive down the cost of complex medical procedures from $100,000 to $2,000 not by doing one big thing, but rather by doing a thousand small things. This approach focuses on driving down the cost of healthcare through process innovation. Process innovation is the mechanism when we implement a new or significantly improved manufacturing method with the help of a new technology in order to remain competitive and meet consumers demands at the same time. We try to solve an already existing issue or reforms an existed process in a different way to generate something with huge benefits, likewise, same is the case here with Dr. Shetty who has reduced the cost of healthcare quite significantly just by changing and improving his production methods.

7 0

3 years ago

During the past year, a company had cash flow to creditors, an operating cash flow, and net capital spending of $30,026, $67,603

larisa86 [58]

Answer: $6,834

Explanation:

Given the following ;

Cash flow to creditors = $30,026

Operating Cashflow = $67,603

Net capital spending = $28,760

Beginning net working capital = $11,917

Ending working capital = $13,900

Therefore,

Net working capital = Ending working capital - beginning working capital

Net working capital = $(13,900 - 11,917) = $1,983

Cashflow from asset = (operating Cashflow - Net capital spending - net working capital)

Cashflow from asset = $67,603 - $28,760 - $1,983 = $36,860

Therefore,

Company's Cashflow to stockholders during the year = (Cashflow from asset - Cashflow to creditors)

$36,860 - $30,026 = $6,834

6 0

3 years ago