1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Zigmanuir [339]
3 years ago
6

Opportunity cost is defined as A. the monetary expense associated with an activity. B. the highest valued alternative that must

be given up to engage in an activity. C. the benefit of an activity. D. the total value of all alternatives that must be given up to engage in an activity.
Business
1 answer:
Ratling [72]3 years ago
4 0

Answer:

B. the highest valued alternative that must be given up to engage in an activity.

Explanation:

Opportunity Cost is the cost of next best alternative foregone while choosing an alternative.

Eg1: If I like Chapati more than rice & rice more than curd, the opportunity cost of consuming chapati is the next best option i.e rice.

Eg2 : Working as school teacher with salary 20000, next best option salary as coaching tutor i.e 10000 is the Opportunity Cost

A is inapt : Opportunity cost can be monetary or non monetary. Eg2 has monetary opportunity cost. But, Eg 1 has opportunity cost in terms of rice' (sacrifised) satisfaction.

C is inapt : Opportunity cost is only the cost of next best alternative & not all alternatives. Eg1 - Curd i.e 3rd best option after chapati, is not the opportunity cost after chapati.

You might be interested in
The Appleton entity established a $200 Petty Cash fund on June 1, 200X. On June 30, 200X the fund had $45 in cash and the follow
Rashid [163]

Answer:

A. DR Petty Cash 200; CR Cash 200

Explanation:

We are asked for the entry on June 1st to stablish the petty cash fund.

The data on June 30th is irrelevant for this question.

We will only work with the information of june 1st

The ptty cash, will be an asset account. To crease an asset account we will debit it.

On credit side, we need to show how is this asset generated. In this case, with another asset, cash. Cash will be credited to show that 200 cash from the main account has been moved into the petty fund

4 0
3 years ago
Say's law says that
Nutka1998 [239]

Answer:

The answer is : People consume the goods  they produce

Explanation:

Say's law could also be refereed to as  Say's law of markets in Classical economics states that supply itself creates its own demand which is equivalent to people consuming what they produce.

3 0
3 years ago
A low-cost airline described as one of the excellent companies in the bestseller of the early 1980s, In Search of Excellence, is
yaroslaw [1]

Answer: Monopolistic competition

Explanation:

This is a market in which large numbers of producer sells differentiated products in terms of quality or branding. The ability to differentiate the products makes it possible for the different firms to practice price discrimenation which is further strengthen through advertising of the product, the price differences may force a firm out of the market if the demand for it's products falls significantly.

6 0
3 years ago
Which statement best describes the difference between a market and traditional economy
icang [17]

Answer:  in a traditional economy, decisions are based on habit and custom

Explanation:

4 0
9 months ago
A company can expect to receive which benefits when it uses a budgeting​ process?
yaroslaw [1]

Available Options:

a) The budget helps motivate employees to achieve sales growth and cost-reduction goals.

b) The budget provides managers with a benchmark against which to compare actual results for performance evaluation.

c) The planning required to develop the budget helps managers foresee and avoid potential problems before they occur.

d) All of the above.

Answer:

Option D. All of the above.

Explanation:

The reason is that when budgets are set every personnel in the organization is given a task along with the restriction on the use of excessive resources of the company by generating a standard number of output, which is benefitial to the company and the managers as well.

Furthermore, standard costs are used in budgeting to estimate the costs of the operations of the company which means that the standard cost would be used for actual units to compare the actual results to make meaningful conclusions.

At the end, the main benefit of the budgeting is that it highlights the potential issues in the operating systems of the organization which must be corrected to avoid the same advers outcome in the future.

So all of the statements are correct.

5 0
3 years ago
Other questions:
  • Beginning inventory, purchases, and sales for Item Widget are as follows: Mar. 1 Inventory 200 units at $8 9 Sale 175 units 13 P
    11·1 answer
  • To maintain your car, every week you should check the __________
    8·2 answers
  • If the interest is compounded semiannually, look up on the chart half the rate and twice the years. If the interest is compounde
    9·1 answer
  • Albert Co. acquired 4,000 shares of Nolan, Inc., common stock on October 20, Year 2, for $66,000. On November 30, Year 4, Nolan
    14·1 answer
  • A joint production process at Berry Lane Farm results in two​ products, blackberry syrup and blackberry jam. The following cost
    12·1 answer
  • Tomasini Corporation has provided the following data from its activity-based costing accounting system:
    14·1 answer
  • The inclusion of leases on the balance sheet as an asset and liability has lowered firm’s debt-to-equity ratio.True / False.
    5·2 answers
  • What would happen if a state or municipality suddenly lost its tax base? Explain if this would have any impact on it's cost of b
    8·1 answer
  • Steeler Towel Company estimates its overhead to be $203,000. It expects to have 58,000 direct labor hours costing $1,015,000 in
    10·1 answer
  • International businesses with markets and production facilities in other countries, or that use materials from different countri
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!