Answer:
Option B
Explanation:
The opportunity cost refers to the situation when an option is selected from alternatives and is the "cost" borne by not having the gain associated with the best value choice.
Simply put, the cost of opportunity is the gain not earned because the next best option is not chosen. Opportunity costs are an important economic notion and are defined as conveying "the fundamental engagement between shortages and selection." The notion of cost of opportunity plays an important role in efforts to make productive use of limited resources.
Answer:E. POLICYMAKERS WILL TAKE ACTIONS THAT ARE LIKELY TO RESULT IN THEIR BEING RE-ELECTED
Explanation: Public choice model suggests that public officials like political office holders will most likely use ECONOMIC POLICIES to ensure they achieve a personal desire or desires such RE-ELECTION.
Public office holders have come to realize that Voters choice are influenced by Government policies,they always want to implement policies that will influence the choice of voters.
<u>Objectives are the mileposts to guide you and your employees on the way to building the business.</u> Objectives are important because they convert visions into clear-cut measurable targets.
Answer:
Productivity is the rate of efficiency by which a company produces goods and services. Thus, output is only one part of the equation used to measure efficiency. ... If the company spends more on its input than it receives in output, it is not efficient.
