Have an account?
Which of thes options best describes opportunity cost?
The price of taking a chance
The alternative you have to go without in a choice of two things
The cost of opportunity
The price you pay when you make a choice
Which of these are external factors that influence financial decisions?
Which best identify Internal factors influencing financial decisions?
A bus fare is $2.00 in the morning rush hour, but only $1.50 during the afternoon. The morning fare can be explained by the fact that the demand for morning bus rides is
Which of these are more representative of Price Elastic
Fresh fruit and vegetables
Milk, Eggs and Bread
What is a cost-benefit analysis?
The taxes that people pay when they buy something.
A process that allows businesses and individuals to analyze where to spend money.
The amount of money required to have or do something
What are consequences?
something that is possible but is not yet real
money charged to do something for a service
task that demands time and effort to complete
the results (positive or negative) of an action or decision
The opportunity cost of Australian households moving away from coal-powered energy to solar-powered energy includes:
(i) the loss of jobs in the coal industry,
(ii) a cleaner environment,
(iii) reduced coal production.
(i), (ii) and (iii)
(ii) and (iii)
(i) and (iii)