Suppose you have a dinner gift certificate for $20. You can use it to order meatloaf or pot roast. Meatloaf costs $12 and pot roast costs $14. Meatloaf and pot roast are both worth $15 to you. The dollar value of the opportunity cost of choosing meatloaf instead of pot roast is $15 EX.
<h3>
What Is Opportunity Cost?</h3>
Opportunity costs represent the potential benefits that an individual, investor, or business misses out on when choosing one alternative over another. Because opportunity costs are unseen by definition, they can be easily overlooked. Understanding the potential missed opportunities when a business or individual chooses one investment over another allows for better decision making.
Opportunity cost is often overlooked by investors. In essence, it refers to the hidden cost associated with not taking an alternative course of action. If, for example, a company pursues a particular business strategy without first considering the merits of alternative strategies available to them, they might fail to appreciate their opportunity costs and the possibility that they could have done even better had they chosen another path.
Formula Of Opportunity Cost
Opportunity Cost=FO−CO
where:
FO=Return on best forgone option.
CO=Return on chosen option.
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According to the information, Johan was beginning to recognize the informal organizational culture at Crontel Manufacturing.
<h3 /><h3>What is informal organizational culture?</h3>
It corresponds to the way in which organizational methods, regulations and practices are established in organizational routines, that is, in an informal culture, the roles and responsibilities of each position may be opposed to their formal distribution.
Therefore, the informal organization can be developed according to interpersonal relationships and activity patterns, which may or may not be reflected in the company's organizational chart.
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The consumer sector is the largest part of the macroeconomy
TRUE
Option (b), The salesperson is one of the most crucial in-store elements. The exchange theory, which emphasizes that each participant provides to the other and anticipates receiving something in return, can be used to explain this influence.
<h3>What does exchange theory actually mean?</h3>
According to the social exchange hypothesis, two people's relationships grow as a result of a process of cost-benefit analysis. In other words, it's a statistic designed to measure the amount of effort a person expends during a face-to-face conversation.
<h3>What are the basic tenets of the exchange theory?</h3>
The basic tenet of the theory of social trade is the concept of costs and benefits. This suggests that people's decisions and behaviors are influenced by their estimations of cost and reward. Costs are the unfavorable outcomes of a decision, including time, money, and energy. Social interactions produce benefits, which are rewards.
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Explanation:
Monotonous work: Sometimes monotonous work irritates the help desk.
Seeking for same information: When providing the same information again and again to a different customer.
Lack of work recognition: At times failing to appreciate the effort create stress.
Talking without rest: Continuously answering without taking a break might cause stress.
Work pressure: When the work pressure increases there is a possibility of stress being more.
Inflexible working hours: Change in life style due to change in work hours might create stress.
Work-life imbalance: This also act as a source for stress.
Taking regular medications, family pressure, undervalued pay scale everything counts for stress.
