Answer:
When I first became an assistant manager of a sales branch, I tried to take on everything myself, from the day-to-day operations of the branch to making all of the big sales calls. I quickly learned that the best managers know how to delegate effectively so that work is done efficiently. Since then, I have won numerous awards for my management skills, and I believe a lot of this has to do with my ability to delegate effectively.
Answer:
B. Cooking dinner for some friends.
Explanation:
Opportunity cost is the cost of <u>next best alternative</u> sacrifised while choosing an alternative.
Eg- If I like Chapati more than rice, rice more than bread - opportunity cost of chapati is only rice & not bread.
If my preferences are 1 > 2 > 3 ; {'>' implies 'preferred over'}
Then the opportunity cost of my 1st preference i.e going out to movie & dinner is the 2nd best preference i.e Cooking dinner for some friends.
Hamburger at base ball game i.e 3rd preference is opportunity cost of 2nd preference i.e Cooking dinner for some friends.
The price of designer jeans would likely increase if its demand increases and there is no changes in supply.
Answer:
First Question
1. B
2. A
3. B
Second Question
The $200 Paolo spends to purchase software from PC Pros.
Explanation:
1. Paolo's transaction falls under the product market cash flow because he wittingly spends on a product–the software.
2. Paolo's earnings comes to the resource market, since he is been paid for his human resourcefulness in the organization.
3. Sharon's payment for washing her car is best placed on the Product market flow since she is spending on a personal product–the car.
The $200 Paolo spends to purchase software from PC Pros in this scenario represent a flow from a household to a firm because he (an individual belonging to a household) transfers his money to the firm.
