Your Elderly Grandma Tells You: "I Haven't Been Taking My

question 121

Multiple Choice

Your elderly grandma tells you: "I haven't been taking my beloved walks because I'm concerned about falling and getting hurt.See,there is always a cost to doing something.But if you don't do anything,then there is no cost." Your grandma does not understand the economic concept of:

• A)scarcity.
• B)efficiency.
• C)opportunity cost.
• D)marginal analysis.

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Definitions:

Endnotes

Notes placed at the end of a document or book that provide additional information or references.

Gainsharing Plans

Incentive programs where employees receive bonuses for performance improvements or cost savings within the company.

Balanced Scorecards

A strategic planning and management system used to align business activities to the vision and strategy of the organization by monitoring performance against strategic goals.

Share Options

Financial instruments that give the holder the right, but not the obligation, to buy or sell shares of a company at a specific price within a certain timeframe.