Opportunity Cost Exists Because

question 22

Multiple Choice

Opportunity cost exists because

• A)technology is fixed at any point in time
• B)the law of comparative advantage is working
• C)resources are scarce but wants are unlimited
• D)the value of lost opportunities varies from person to person
• E)efficiency is measured by the monetary cost of an activity

Utilize gross profit ratio and profit margin to assess operational efficiency.

Apply the concept of net working capital and understand its impact on a company's liquidity.

Understand the significance of cash management ratios like the cash coverage ratio.

Calculate and analyze turnover rates and understand their impact on business operations.

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Definitions:

Anus

The external opening of the anal canal.

Tongue

The muscular organ of the mouth that assists in the production of speech, contains the taste buds, and provides the ability to swallow.

Papillae Projections

Small, nipple-like structures on the surface of an organ, such as the tongue, that often contain taste buds.

Taste Buds

Small sensory organs located on the tongue that allow humans to perceive different tastes.