Why Would It Be a Mistake to Treat Opportunity Costs

question 121

Multiple Choice

Why would it be a mistake to treat opportunity costs and explicit monetary costs as identical?

• A)Because sometimes the market does not function well.
• B)Because opportunity costs are different for different goods.
• C)Because there are trade-offs involved in any decision.
• D)Because of existence of efficient markets.

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Definitions:

Employee Involvement

Practices and strategies that encourage employees to contribute ideas and participate in decision-making processes affecting their work.

Organizational Change

Organizational change refers to the process through which a company or organization undergoes modification in its strategies, processes, or structures to adapt to internal or external changes.

Role Patterns

Recurring behaviors and expectations associated with particular positions or jobs within a social or organizational structure.

Restraining Forces

Factors or conditions that resist or oppose change, hindering progress towards achieving desired goals or transformations.