Define the Term "Opportunity Cost

question 83

Essay

Define the term "opportunity cost." How may this cost be relevant in a make-or-buy decision?

---

Definitions:

Unconditioned Stimuli

Stimuli that naturally and automatically trigger a response without any prior learning.

Conditioned Stimuli

Stimuli that have become associated with a particular response through conditioning, typically in the context of classical conditioning.

Sign-Stimuli

External sensory cues that trigger a specific, often instinctual, behavior in an organism.

Classical Conditioning

A learning process that involves creating associations between a naturally occurring stimulus and a previously neutral stimulus.