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2 years ago

1. The giving up of one benefit or advantage in order to gain another regarded as more favorable.

Business

1 answer:

Serjik [45]2 years ago

7 0

Answer:

1. Trade off

2. Opportunity cost

3. Cost-benefit analysis

4. Diminishing marginal utility

Explanation:

1. Giving up one benefit or advantage to gain another regarded as more favorable is called trade-off. Every economic decision involves some trade-off.

2. Opportunity cost is the second-best alternative or value of the alternative, that must be given up when making a choice. Because of scarce resources with alternative uses allocation of resources involves some opportunity cost.

3. Cost-benefit analysis can be defined as the process of examining the benefits and costs of each available alternative in arriving at a decision. Resources are allocated efficiently if the cost incurred and benefit earned is equal.

4. As we go on increasing the quantity consumed of a product, the marginal utility or satisfaction earned from its consumption goes on decreasing. This is called diminishing marginal utility.

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The total number of prospective customers for a good or service inside a certain market, along with the potential revenue from those sales, make up the "market size."
For a number of reasons, it's critical to determine and comprehend market size.

What is an example of market size?

For instance, a shoe company might find 100,000 people who are interested in its product, but data on income and accessibility reveals that only half of them have the resources to make a purchase.
The market that is open in that situation has 50,000 potential customers.

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1 year ago

The financial statements of the larson company report net sales of $1,000,000 and accounts receivable of $80,000 and $60,000 at

stepan [7]

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3 years ago

It is said that kone is embedding intelligence across its supply chain and enables smarter buildings. explain.

alexandr402 [8]

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Core values and concepts form the foundation of our culture. We never err on the side of our core values. They consist of sustainability, quality, and safety. The core of our culture is comprised of our values, which stand for the attitudes and actions that KONE wants to encourage.

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1 year ago

The sentence, "our company experienced an increase in profits during the last fiscal year," uses precise vigorous wording.

ZanzabumX [31]

Answer:

The statement is: False.

Explanation:

Vigorous wording refers to the act of making information appear more than what it really is, in some cases exaggerating the attention in one point or another. The phrase:

"our company experienced an increase in profits during the last fiscal year";

provides direct, objective information about an event that happened. There are not adjectives that might distort the main message that is intended to be provided.

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3 years ago

An example of global outsourcing is seen when gap, inc uses low-cost caribbean labor to cheaply produce its clothing, and then f

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3 years ago