Opportunity Cost Exists Because

question 22

Multiple Choice

Opportunity cost exists because

• A)technology is fixed at any point in time
• B)the law of comparative advantage is working
• C)resources are scarce but wants are unlimited
• D)the value of lost opportunities varies from person to person
• E)efficiency is measured by the monetary cost of an activity

---

Definitions:

Airplane Crash

An event where an aircraft sustains significant damage or destruction leading to loss of life or serious injury.

Multisource Feedback

A performance appraisal method that gathers feedback on an individual from a variety of sources including peers, subordinates, and superiors.

360-degree Feedback

A comprehensive feedback system where employees receive confidential, anonymous feedback from the people who work around them.

Circular Feedback

A communication pattern where information flows around in a loop, allowing for continuous adjustment and learning.