The Opportunity Costs Associated with the Use of Resources Owned

question 204

Multiple Choice

The opportunity costs associated with the use of resources owned by a firm are usually

• A) externalities.
• B) implicit costs.
• C) explicit costs.
• D) sunk costs.

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Definitions:

Group Cohesiveness

The degree to which a group is attractive to its members.

Member Participation

The involvement or engagement of members in the activities, decision-making, or life of an organization or group.

Member Satisfaction

The level of contentment experienced by individuals within a group, organization, or team, influenced by factors like support, recognition, and achievement of goals.

Performance

The level at which an individual, group, or organization accomplishes its goals and objectives, often evaluated against a set of standards.