Greg, a Landscaper, Is Planning on Opening His Own Landscaping

question 104

Multiple Choice

Greg, a landscaper, is planning on opening his own landscaping company. He currently earns
$40,000 per year working for his uncle but he will need to quit that job. He plans to use $10,000 in savings to pay for the equipment he needs, although even after use he could sell the equipment for what he paid, $10,000. The current interest rate on savings is 5 per cent. What is the total opportunity cost incurred by Greg in running his own business?

• A) $50,000
• B) $40,500
• C) $10,000
• D) $40,000

Recognize the role of specific characteristics in prey avoiding predation.

Understand the principles of ecological efficiency and its impact on ecosystem associations.

Distinguish between different mimicry types and their ecological significance.

Understand the concept of carrying capacity and factors affecting it.

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Definitions:

Selling Price

The amount of money for which a seller is willing to sell their product or service.

Cost

The amount that is spent to buy or produce something, including the resources and materials used.

Overhead Expenses

Costs associated with running a business that are not directly tied to producing goods or services, such as rent and utilities.

Profit

The financial gain obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes needed to sustain the operations.