A. Wages is the general term for the payments for the use of resources
Answer: Option B
Explanation: Opportunity cost refers to the of loss of profit when an individual or firm chooses one alternative over other.
The statement in the given case, depicts the opportunity cost one has to pay of using the scarce resources that could be sued on different alternatives.
The lunch is never free depicts that one could have used it in other alternatives that may have produced some economic benefits.
Hence, the correct option is B.
Answer: Rapid Application Development (RAD)
Explanation:
Rapid Application Development (RAD) is a method of developing software that tries more to develop a working model first and then adjusts as it receives feedback from users. It essentially is evolving every time because instead of planning for what is needed ahead of time, it simply makes a product and changes it as needed to fit the actual needs of the customers.
Answer:
future value
Explanation:
Future value is the value of a sum of money at some point in the future given a certain interest rate.
Formula for future value = present value x ( 1 + r )^n
Assuming i = 10
the future value of $100 in 5 years = 100 x ( 1.1)^5 = $161.05
