In Economics,cost Is Measured as ________,And Benefit Is Measured as ________

question 256

Multiple Choice

In economics,cost is measured as ________,and benefit is measured as ________.

• A)what you must give up to get something;what you are willing to give up to get it
• B)what you are willing to give up to get it;what you must give up to get something
• C)what you are willing to pay on the margin;what the government pays you when you are unemployed or retired
• D)the amount of money that you pay on the margin;the amount of money that you receive on the margin
• E)the amount of money that you pay for something;the amount of money that someone else is willing to pay you

---

Definitions:

Balanced Scorecard

A strategic planning and management system used to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor performance against strategic goals.

Inventory

The total amount of goods and materials held by a company for the purpose of resale or production.

On Hand

Refers to the amount of inventory currently available or in stock in a business for use or sale.

Indirect Materials

Materials used in the production process that are not directly traceable to the product, often included as part of overhead costs.