When an Action Is Chosen, the Highest- Valued Alternative NOT

question 501

Multiple Choice

When an action is chosen, the highest- valued alternative NOT chosen is called the

• A) implicit cost.
• B) opportunity cost.
• C) explicit cost.
• D) accounting cost.

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Definitions:

Stars

Employees or units within an organization that perform exceptionally well and are often seen as key contributors to its success.

Stars

In a business context, this term usually relates to products or business units with high market share in fast-growing markets. In astronomy, stars are celestial bodies that emit light and heat from nuclear reactions.

Upside Potential

The potential or likelihood for an investment, asset, or a business to increase in value or performance in the future.

Expanding Markets

The process of entering new geographic or demographic market segments to increase customer base and achieve higher sales.