What Is the Opportunity Cost of an Item

question 136

Multiple Choice

What is the opportunity cost of an item?

• A) the number of hours needed to earn money to buy it
• B) what you give up to get that item
• C) usually more than the dollar value of the item
• D) the value of the resources needed to produce the item

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Definitions:

Leading Provider

A company or organization that is recognized as being at the forefront in its industry or sector, offering superior products or services compared to competitors.

Sales Opportunity

A potential future sale or revenue-generating event that is identified after qualifying a lead, indicating the chance to sell a product or service to a prospect.

Expensive-To-Reach

Describes a target market segment that is costly to access, often due to geographic, demographic, or psychographic barriers.

Sales Potential

The estimated maximum total sales revenue of a product or service in a specific market over a set period.