Which of the Following Is the Best Example of an Opportunity

question 19

Multiple Choice

Which of the following is the best example of an opportunity cost?

• A)The cost of filling up the company car with gasoline.
• B)The time incurred in reviewing expense reports of key employees in the company.
• C)Taking two days' vacation at the end of the month instead of completing a project for a client.
• D)Asking the President of the company for a raise.

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Definitions:

Experience Rating

The number of employees a company has laid off in the past and the cost of providing them with unemployment benefits.

Bureau of Labor Statistics

A unit of the United States Department of Labor responsible for collecting and analyzing economic data related to labor market activity, working conditions, and price changes.

Health Care Benefits

Various types of medical care provisions offered to employees as part of their compensation package.

Traditional Health Insurance

A type of health insurance that typically involves paying a premium, meeting a deductible, and then paying a percentage of service costs, with many services having a co-pay.