LeBron James is one of the best basketball players in the country, was selected by the Cleveland Cavaliers as the first pick in the 2003 NBA draft, signing a three-year contract worth almost $13 million, with an option for a fourth year at $5.8 million. Had he decided to attend college instead, James would have incurred an opportunity cost of at least $19 million in forgone income to earn a four-year college degree.
Opportunity cost is the value you would gain or lose if you choose a different path or solution. The opportunity cost in this scenario is deciding to play in the NBA since college was too expensive. LeBron James ultimately saved time and money by taking the detour because he received a contract worth close to $13 million; otherwise, he would have had to pay more and spend more time attending a four-year college.
LeBron's decision to join the NBA right after high school graduation has an opportunity cost because he might have attended a four-year university or college instead. He was chosen by the Cleveland Cavaliers as the first overall choice in the 2003 NBA Draft
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Answer:
D. Absolute Advantage
Explanation:
Absolute advantage represents an economics principle referring to the capability of a firm or a country or even an individual to manufacture or produce a larger quantity of a product or offer a greater quantity of a service than its competitors especially with the same amount of resource which in in reference to international trade is labour.
The absolute advantage for Russia in the question is that it has the only deposits of Yuksporite and using the same amount of labour input other countries would have used, Russia has the absolute advantage as the only manufacturer of goods that would come out of Yuksporite.
Answer:
This long of a question for onmly 10 points? But ill answe rit anyway. 48000299 the 200
Explanation:
Answer:
factoring company
Explanation:
Factoring companies purchase your company's invoices (account receivables). When they do that, your company promptly receives a cash advance, instead of waiting for the usual 60, 90 day period to receive the full payment amount. Afterward, the factoring company collects the payment from your clients.
All of that is done for a fee to the factoring company (deducted from the full payment amount) and mostly with clients with whom it is normal to have longer payment periods. Factoring is an essential way to get bigger working capital.
