Answer:
Explanation:
Opportunity cost is the cost of missing out on the next best alternative. In other words, opportunity cost represents the benefits that could have been gained by taking a different decision.
All businesses have to make choices - and those choices have implications.
In business, resources are usually scarce or limited. Decision are made under circumstances of uncertainty and taking one course of action or decision may affect business ability to take an alternative action.
Opportunity cost measures the cost of a choice made in terms of the next best alternative foregone or sacrificed.
Examples of Opportunity Cost in the Business & Economic Environment
Work-leisure choices
The opportunity cost of deciding not to work an extra ten hours a week is the lost wages given up.
Government spending priorities
The opportunity cost of the government spending an extra £10 billion on investment in National Health Service might be that £10 billion less is available for spending on education or defence equipment.
Investing today for consumption tomorrow
The opportunity cost of an economy investing resources in new capital goods is the production of consumer goods given up for today.
Use of scarce farming land
The opportunity cost of using farmland to grow wheat for bio-fuel means that there is less wheat available for food production, causing food prices to rise
Trade-offs
A trade-off arises where having more of one thing potentially results in having less of another. The table below lists some examples of how trade-offs often arise in business - as a result of resource scarcity.
Answer:
in-group Favoritism
Explanation:
In-group favoritism: The term in-group favoritism is also called as intergroup bias, in-group–out-group bias, in-group bias, or in-group preference.
In-group favoritism is defined as a phenomenon of an individual favoring the members of his or her group i.e, the in-group over the members of another group i.e, the out-group. In-group favoritism can be expressed in terms of allocation of resources, other's evaluation, and in various other ways.
The in-group favoritism leads to develop a powerful influence on the group as well as the individual's behavior.
In the question above, the statement signifies the in-group favoritism.
Answer:
Most likely an interventionist approach
Explanation:
Answer:
Daniel Shay led the Shays rebellion, which was a rebellion against debt collection, as many of the farmers were poor and could not afford to pay their debts. Their goal was to destroy the documents that hold their debts, as well as acquire items of value to sustain their livelihood.
Answer:
autism spectrum disorder.
Explanation:
Autism spectrum disorder: In abnormal psychology, the term autism spectrum disorder is described as a mental condition that is related to an individual's brain development that affects the way he or she socializes and perceives another person that causes different problems in his or her social communication and interaction. Autism spectrum disorder involves repetitive and limited behavioral-pattern.
In the question above, the given statement represents the autism spectrum disorder.
