Although most people want to maximum attainment of every economic goals, there is the operating reality of opportunity cost that causes us to give up some of one thing if we want more of another.
<h3>What is O
pportunity Cost?</h3>
Opportunity cost is a concept in economics and it refers to the cost of something that has to be given up to enjoy something better. This can be for example the benefits of second best alternatives (when the first best is chosen) or alternative use of something, which is not decided on (the cost of not using land for farming and using it for building a house instead).
It is the amount or benefits an individual or organization get when they choose a particular products over another one.
The advantage could be monetary benefits.
Therefore, we can conclude that Although most people want to maximum attainment of every economic goals, there is the operating reality of opportunity cost that causes us to give up some of one thing if we want more of another.
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Answer:
<em>Countries will completely specialize in the product in which they have a comparative advantage if free trade is allowed to occur. ( first choice)</em>
Answer:
23.12%
Explanation:
Internal rate of return (IRR) is the rate at which the Net present value (NPV) of a project equals to zero.
Using a financial calculator and the CF function, input the following to find IRR;
Initial investment; CF0 = -1,200,000
Yr1 cashflow inflow ; C01 = 235,000
Yr2 cashflow inflow ; C02 = 412,300
Yr3 cashflow inflow ; C03 = 665,000
Yr4 cashflow inflow ; C04 = 875,000
Then key in IRR CPT = 23.119%
Therefore, the Internal rate of return this expansion is 23.12%
Answer:
The correct answer is True.
Explanation:
A marketing strategy helps to create products and services with the best possibilities of obtaining benefits. This is because the marketing strategy begins with market research, taking into account the optimal target customer, what the competition is doing and what trends could be on the horizon.
Using this information, determine the benefit customers want, what they are willing to pay and how you can differentiate the product or service from the competition.
Answer: I believe it's C, because it says that there are many different prices, and it makes sense because there are so many different selling sites
