Comparing Cost Structures,speed,quality Levels,etc.is Known as

question 11

Multiple Choice

Comparing cost structures,speed,quality levels,etc.is known as

• A)process benchmarking.
• B)financial benchmarking.
• C)performance benchmarking.
• D)strategic benchmarking.

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Definitions:

Opportunity Cost

The price paid for not selecting the alternative that is second-best when a choice is made.

Car

A vehicle on wheels intended for moving people, typically driven by either an internal combustion engine or an electric motor.

Truck

A large, heavy motor vehicle used for transporting goods, materials, or large numbers of people.

Opportunity Cost

The cost of the next best alternative foregone when making a decision.