Answer:
may limit the extent to which a nation specializes in producing of a particular product.
Explanation:
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.
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 invested the same amount of resources in a salon business or any other business as the case may be.
The law of increasing opportunity costs can be defined as a principle in business which states that, if an organization or business firm continually raise (increase) its level of production, its opportunity cost also increases (rises).
Consequently, this may limit the extent to which a nation or country in any part of the world specializes in producing of a particular product so as to reduce or lower its opportunity cost.
Answer:
$326,622.73
Explanation:
Calculation to determine How much will you have in your account if you make deposits for 20 years
Using this formula
Future value = Annuity × {( 1 + interest rate) ^ time period - 1} ÷ interest rate
Future value = $5,900 × {( 1 + 0.097 ^ 20 years - 1} ÷ 0.097
Future value= $5,900 × 55.3597842916
Future value= $326,622.73
Therefore the amount you will have in your account if you make deposits for 20 years is $326,622.73
In my opinion, i think this happens because different majors can you get different jobs, where people are making different amounts of money! so if you had a education degree, it would take longer to pay it “off” verses say a law degree! hope that kinda helped :)
Business formation is also known as: a business attraction
