Answer:
Someone gives up going to see a movie to study for a test in order to get a good grade. The opportunity cost is the cost of the movie and the enjoyment of seeing it.
At the ice cream parlor, you have to choose between rocky road and strawberry. When you choose the rocky road, the opportunity cost is the enjoyment of the strawberry.
A player attends baseball training to be a better player instead of taking a vacation. The opportunity cost was the vacation.
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<h2>Electronic Data Interchange is the bridge between partner companies in a supply chain.</h2>
Explanation:
- Enables information transfer between one company and another
- The transfer of information would be in electronic mode rather than paper mode
- Since they conduct business electronically they are called "trading partners".
- Types of EDI are :Direct EDI/Point-to-point, Web EDI, Mobile EDI, etc
- Data are exchanged in 3 simple steps: Prepare the document, convert that to EDI, send to your partner or client
- The three key elements of EDI are: Modem, VAN and point to point link
Answer:
The answer is Mission statement.
Explanation:
A mission statement of an organization describes the overall aims of a business organization. Every company has its two statements, one is the mission statement and other is the vision statement. Vision statement describes the vision of the company, where as mission statement describes the overall goals of the organization. It gives information about the type of product it provides, its target market, its potential customers, the region where it is operated, etc. So the mission statement is the one which describes the overall aims of a business organization.
Answer:
1. Bad credit
2. Over the limit fee
3. Late payment fee
Explanation:
1. Bad credit is a situation where a borrower fails to repay his bills on time. This can have an effect on his credit score, thus resulting in a bad credit score and the inability of lenders to lend money. This explains John's situation because he fails to pay on time.
2. Over the limit fee is charged when a person's balance exceeds his credit limit and this can result in a decline of transaction. Susan has apparently exceeded her limit and her transaction might be declined or the balance might be deducted when she pays the fee.
3. Late payment fee is charged when a person fails to complete his payment on the due date. Interest is being charged after the purchase which he pays at a later time because he failed to read the conditions of the credit card offer.
Either using its low-cost edge to underprice competitors and attract price-sensitive buyers in large enough numbers to increase total profits or refraining from price cutting and using the low-cost advantage to earn a bigger profit margin
