Answer:
A. Opportunity cost
Explanation:
In Economics, Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.
Simply stated, it is the cost of not enjoying the benefits, profits or value associated with the alternative forgone or best alternative choice available.
Hence, the opportunity cost of a choice is the benefits that could be derived in from another choice using the same amount of resources.
For instance, if you decide to invest resources such as money in a food business (restaurant), your opportunity cost would be the profits you could have earned if you had invest the same amount of resources in a salon business or any other business as the case may be.
In this scenario, you choose to complete your homework rather than watch television so that you can earn a good grade. Therefore, you made the choice with the lowest opportunity cost.
<span>C) Renters don’t have to pay for major repairs to the property.</span>
Answer:
Find the answer in the file attached.
Answer:
Hanna is correct.
Explanation:
The sale of the 2004 Dodge cannot be construed to be a sale of goods under the Uniform Commercial Code since this law covers sales of goods by merchants. Hanna cannot be said to be a merchant of 2004 Dodge as she is not known to be in the business for the purchase and sale of cars. Therefore, the case should be adjudicated under the common law. What has taken place in this instance is the exchange of a personal asset. Hanna cannot make a trading profit from the sale, but a capital gain. Rachel is not correct.
