Answer:
Opportunity cost are experienced whenever choices are made
Explanation:
Scarce resources means the shortage or unavailability of resources required for production of goods and services . In fact economists believe that all resources are scarce because of the limit to the availability of factors of production involved in the production.
To manage scarcity , economist came up with the principle of opportunity cost.
Opportunity cost is the cost of the alternative forgone while making a choice.
This means that as a man may not be able to meet up with all his needs due to scarcity of resources , he will need to select the ones that are of utmost importance and forgo the other needs on the list , whichis the opportunity cost of the transaction.
Answer:
Compound interest will lead to a larger sum of money than a comparable simple interest payment.
Explanation:
The true statement is that compound interest will lead to a larger sum of money than a comparable simple interest payment because the interest are compounded for a certain number of times such as daily, weekly, quarterly or annually while simple interest isn't compounded at all.
To find the future value, we use the compound interest formula;
Where;
A is the future value.
P is the principal or starting amount.
r is annual interest rate.
n is the number of times the interest is compounded in a year.
t is the number of years for the compound interest.
Mathematically, simple interest is calculated using this formula;
Where;
S.I is simple interest.
P is the principal.
R is the interest rate.
T is the time.
A company controls the market for a good or service
Answer: Core customer value
Explanation:
Core customer value could be seen as focusing on customers who basically buy your product and what can be done to keep them or improve services for them. Most manufactures are on the lookout on what their customers really want and how they can give it to them in a great manner which would also be affordable. Customers are gold, hence, when not treated well they can be lost to another manufacturer considering the competition of the market. Core customer value focuses on what better can the manufacturer offer the customer.
