Suppose you have a dinner gift certificate for $20. You can use it to order meatloaf or pot roast. Meatloaf costs $12 and pot roast costs $14. Meatloaf and pot roast are both worth $15 to you. The dollar value of the opportunity cost of choosing meatloaf instead of pot roast is $15 EX.
<h3>
What Is Opportunity Cost?</h3>
Opportunity costs represent the potential benefits that an individual, investor, or business misses out on when choosing one alternative over another. Because opportunity costs are unseen by definition, they can be easily overlooked. Understanding the potential missed opportunities when a business or individual chooses one investment over another allows for better decision making.
Opportunity cost is often overlooked by investors. In essence, it refers to the hidden cost associated with not taking an alternative course of action. If, for example, a company pursues a particular business strategy without first considering the merits of alternative strategies available to them, they might fail to appreciate their opportunity costs and the possibility that they could have done even better had they chosen another path.
Formula Of Opportunity Cost
Opportunity Cost=FO−CO
where:
FO=Return on best forgone option.
CO=Return on chosen option.
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True because I said so and i don’t really care but I hope this helped
Answer: False
Explanation:
The Program Evaluation and Review Technique (PERT) is used to know the schedule tasks and also know the critical path variation. It is useful to know the length of time that'll be needed for the completion of every task and how it relates to others in order to know the entire time needed to complete the particular project.
The Project Evaluation and Review Technique (PERT) is not a means of scheduling and controlling projects with constant activity times. The activity time normally varies.
Lower-level managers are empowered to make decisions in a decentralized organization, which can increase motivation and job satisfaction.
<h3>What is motivation ?</h3>
Motivation is the reason why humans and other animals begin, continue, or discontinue an activity at any particular time. Motivational states are typically viewed as internal forces that induce a desire to engage in goal-directed conduct.
The Three Kinds of Motivation
Extrinsic. Performing an action in order to achieve or prevent a specific result. Many of the things you perform every day are probably extrinsically driven. ...
Intrinsic. Internal motivation for success or a sense of purpose... Family. Motivated by a desire to provide for your family.
Motivation will assist him in achieving his personal objectives. Individuals who are motivated will be satisfied with their jobs. Individual self-development will benefit from motivation. Working with a dynamic would always benefit an individual.
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