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Why might the money price for something be higher than the opportunity cost? Why might it be lower? Give an example of each to illustrate your answer.
Ability to Succeed
The possession of necessary skills, resources, or qualities that enable an individual or organization to achieve set goals or objectives.
Formal Business Plans
Detailed documents that outline the operational and financial objectives of a business, including its strategies for achieving these goals.
Entrepreneurs
Individuals who initiate, manage, and assume the risks of starting and running a new business venture, often bringing innovative products or services to the market.
Personal Credit History
A record of an individual's past borrowing and repayment activity, often used by lenders to assess creditworthiness.
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