The Extra Cost Associated with Undertaking an Activity Is Called

question 173

Multiple Choice

The extra cost associated with undertaking an activity is called

• A)net loss.
• B)marginal cost.
• C)opportunity cost.
• D)foregone cost.

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Definitions:

Unity of Direction

A management principle suggesting that all parts of an organization should be aligned and moving towards common objectives.

Home Building Company

A business organization that specializes in constructing residential homes for clients.

Complete Autonomy

The state or condition of being entirely independent, with the freedom to make decisions without external control or influence.

Pig Iron

A form of crude iron that is the direct product of smelting iron ore with coke and limestone in a blast furnace.