Answer:
Opportunity cost are experienced whenever choices are made
Explanation:
Scarce resources means the shortage or unavailability of resources required for production of goods and services . In fact economists believe that all resources are scarce because of the limit to the availability of factors of production involved in the production.
To manage scarcity , economist came up with the principle of opportunity cost.
Opportunity cost is the cost of the alternative forgone while making a choice.
This means that as a man may not be able to meet up with all his needs due to scarcity of resources , he will need to select the ones that are of utmost importance and forgo the other needs on the list , whichis the opportunity cost of the transaction.
Answer:
The 3 reasons the Lean Canvas model is can be advantageous for entrepreneurs is described below in detail.
Explanation:
Lean Canvas is a preparation process that supports you to get to the center of your approach. It puts everyone on one sheet, supporting you to set out the essential information that you require, without any of the extraneous items. It substitutes elaborate business strategies with a single-page business design.
Answer:
a. delivery
Explanation:
The delivery gap is that gap which shows a difference between the company service timing and actual service timing that is given to the customer
The motive of the organization is to deliver the productions within the prescribed time so that the customers can get maximum satisfaction.
But if the delivery is not made with the given that, the customer expectation falls which ultimately reduces the customer satisfaction towards the products delivered to them.
Answer:
$530,672
Explanation:
Base on the scenario been described in the question, we can use the following method to compute the avoidable interest on this project
Use the attached file below to find the solution to given problem .
Answer: c. small changes in economic growth rate lead to large GDP changes over time.
Explanation:
If there is even a small change in the rate at which the economy is growing, this increase will increase by even more the year afterward and then even more as time goes on. This is because the interest is being compounded overtime.
Look at the future value formula that shows compounding for instance:
Future value = Amount * (1 + rate) ^ number of periods
Assume even a change of 2% in the growth rate. In 30 years, this rate would have increased the economy by:
= 1 * ( 1 + 2%)³⁰
= 1.81
Which is a rate of:
= 1.81 - 1
= 81%
What started off as only 2% became 81% in 30 years. This is what compounding does.
