Answer:
B. the highest valued alternative that must be given up to engage in an activity.
Explanation:
Opportunity Cost is the cost of next best alternative foregone while choosing an alternative.
Eg1: If I like Chapati more than rice & rice more than curd, the opportunity cost of consuming chapati is the next best option i.e rice.
Eg2 : Working as school teacher with salary 20000, next best option salary as coaching tutor i.e 10000 is the Opportunity Cost
A is inapt : Opportunity cost can be monetary or non monetary. Eg2 has monetary opportunity cost. But, Eg 1 has opportunity cost in terms of rice' (sacrifised) satisfaction.
C is inapt : Opportunity cost is only the cost of next best alternative & not all alternatives. Eg1 - Curd i.e 3rd best option after chapati, is not the opportunity cost after chapati.
Answer:
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- <u><em>Law of demand</em></u>
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Explanation:
Indeed, the <em>law of demand </em>is that the price and quantity demanded are inversely related. <em>Ceteris paribus</em>, the economist say. It is a latin expression that means "<em>other things equal</em>".
As the resources are, per definition, scarce, the consumers, ecomomic agents who buy the products, need to allocate the money among the different goods and services that the market puts at their disposal.
And they allocate the resources in a intelligent way: they "calculate" the utility of each product considering the cost. If the price increase, the ratio of utility to cost decreases and the consumer will diminish the quantity demanded for that good. If the price decrases, the utility to cost ratio increases and the quantity demanded will increase.
<span>Grassroots politics is a political campaigns works the way it uses face to face communications by citizens to gain interest and momentum.</span>
Answer: B2B
Explanation:
Based on the information given, we can infer that the interaction of the employee with ASI is an example of B2B..
Business-to-business simply means a form of transaction that is done between businesses, such as between a manufacturer and the wholesaler. It doesn't take place between the producer and the consumer.
A.limited supply hope that helps
