_____ Refers to the Economic Value of the Knowledge, Experience

question 143

Short Answer

_____ refers to the economic value of the knowledge, experience, skills, and capabilities of employees.

---

Definitions:

Opportunity Cost

The expense associated with missing out on the next most advantageous option when a decision is made, denoting the advantages one foregoes.

Opera Ticket

A pass or admission ticket to attend an opera performance, typically sold by the opera house or through various ticket venues.

Free Ticket

A complimentary pass or voucher granting the holder access to an event, activity, or service at no cost.

Opportunity Cost

The cost of the next best alternative that is forgone when making a decision.