Answer: The correct answer is C. The value of the best alternative that is given up in order to do or get something.
Explanation: Opportunity cost literally means alternative thing forgone - meaning what is given up to get something <em>(sacrifice</em>). It is a concept used by economists to allocate limited resources for production, consumption, distribution and exchange of goods and services. Production of goods or services entails the creation of value. In other words, it gives a more understanding on how limited resources are allocated in order to satisfy the human insatiable desires.
For example, a student may be constrained with limited amount of pocket money, say $100 and the student wants to buy textbooks that cost $10 each or go for different outings going for $20 each. In this scenario, the student has different options: a) buy 10 textbooks and 0 outing b) buy 8 textbooks and a outing c) 6 textbooks and two outings d) 4 textbooks and three outings e) 0 textbooks and five outings. For the student to have any more of the other, he has to give up the other unit. What is given up is called opportunity cost.
B. Decreases
if demand goes down, nobody is buying anything, so the need to produce/manufacture is down
Options:
A. prospecting and qualifying.
B. sales identification.
C. personal development.
D. preliminary sales analysis.
Answer:A. prospecting and qualifying.
Explanation: Prospecting and qualifying are two terms which are currently used by the people who are involved in the sales and marketing of products.
Prospecting is the process of identifying and correcting with people or Organisations that can become potential customers.
Qualifying is the process of identifying and confirming if a given lead is a potential and prospective customer.
THE ACTIVITIES OF BAILEY THROUGH WHICH BAILEY WAS ABLE TO IDENTIFY DECISION MAKERS WHO ARE WILLING TO CONSIDER OF HER TEXT IS PROSPECTING AND QUALIFYING.
True. A company will develop a standard cost for each product type if it produces many different products.
The process cost system should be used when manufacturing is efficient and continuous. This system's equivalent units method successfully represents the challenging problem of determining how much work the Work in Process entails.
Process costing explains how to use the concept of equivalent units to assign manufacturing costs to the units produced. Businesses may create and market various goods, or at the very least, multiple versions of the same product. Most of the time, manufactured goods are connected in terms of consumption or production. The firm's output and pricing decisions must consider the relationships between the items when they are related.
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