Which situation best describes an opportunity cost? A. A corporation that begins selling a new product sees its overall profit i
ncrease. B. A person decides to go back to college in order to transition into a new career C. A marketing company goes out of business because it could not find enough clients D. An employer who hires a new employee can’t hire the other people she interviewed
The correct answer is D. An employer who hires a new employee can’t hire the other people she interviewed.
Explanation:
Opportunity costs are the costs of an economic choice expressed in terms of the best missed opportunity: it values the unrealized return of the best possible alternative compared to the final decision made (Choosing is losing). The profit that is obtained from these costs is the economic profit.
The opportunity costs are therefore broader than the accounting costs. The accounting costs only provide a monetary (expressed in money) valuation of the amount spent to acquire or do something. The opportunity costs also examine what a possible alternative use of resources could have yielded.
The "Ganges" Plain stretches across northern India and is home to one-tenth of the world's population. It is also known as the Indo-Gangetic Plain or the North Indian Plain. It stretched westward from the combined delta of the Brahmaputra River Valley and the Ganges River to the Indus River Valley.
Employees are who are permitted to personalize their work space are likely to be more productive, committed, motivated workers, because the personalization process increases workers' <u>perceived control</u>. Employees who personalize their work space have a perceived control of their work environment and hence feel more at home in their work thus leading to increased productivity.
