An Opportunity Cost

question 68

Multiple Choice

An opportunity cost

• A) can be measured only when the decision involves expenditures of money.
• B) can be measured only when the decision involves spending time on one thing and not on another.
• C) is impossible to measure.
• D) is equal to the value of what is given up to make a purchase or take an action.
• E) exists for every decision made by individuals and businesses,but not by the government.

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Definitions:

Decode Messages

The process of interpreting and understanding the meaning of messages communicated.

Intercultural Communication

The exchange of information and understanding between people of different cultural backgrounds.

Norms For Behavior

Accepted standards or rules within a group or society that dictate what is considered appropriate conduct.

Culture

The collective manifestations of human intellectual achievement regarded collectively, often expressed through art, music, traditions, and languages.