Which of the Following Quotations Best Captures the Idea of Opportunity

question 183

Multiple Choice

Which of the following quotations best captures the idea of opportunity cost?

• A)"Opportunity knocks but once."
• B)"Every choice involves a sacrifice."
• C)"Let's not ask for the moon; we have the stars."
• D)"Fools rush in where wise men fear to tread."
• E)"All that glitters is not gold."

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Definitions:

Piece Rates

A pay system where employees are paid based on the quantity of units they produce or tasks they complete.

Commissions

Payments made to employees or agents based on the value of sales or similar transactions they facilitate or complete.

Gainsharing

A performance-based compensation strategy where employees receive bonuses based on improvements in the company's productivity, efficiency, or profitability.

Piece-rate Plans

A compensation system where employees are paid based on the quantity of work completed, rather than hours worked.