Which of the Following Statements About Opportunity Cost Is FALSE

question 71

Multiple Choice

Which of the following statements about opportunity cost is FALSE?

• A) Opportunity cost may be larger than monetary cost.
• B) Opportunity cost includes both explicit and implicit costs.
• C) The real or opportunity cost of something is what you must give up to get it.
• D) Opportunity cost is synonymous with explicit cost.

Identify the requirements for effective conflict resolution in organizational settings.

Understand the concepts of power bases within an organization.

Grasp the notion of organizational outcomes and the role of coordination of resources to achieve them.

Understand the skills and attributes essential for effective change agents.

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Definitions:

Higher Management

Senior-level executives or administrators in an organization responsible for making strategic decisions and overseeing overall operations.

Team Player

One who emphasizes group accomplishment and cooperation rather than individual achievement and not helping others.

Emotional Support

Providing comfort, reassurance, and understanding to someone to help them cope with emotional distress or difficulties.

Micromanager

An individual, often a manager or supervisor, who excessively controls or oversees the work of subordinates, often with excessive attention to minor details.