Examlex
Jack Phillips offers a step by step method for converting training benefits into monetary values.What does he suggest be done in the last step?
Opportunity Cost
Giving up possible rewards from different alternatives by choosing one path.
Attending Class
The act of being present at scheduled educational lessons or seminars.
Highest Valued Alternative
The next best choice or option that must be forgone to pursue a certain action or investment, often considered in opportunity cost calculations.
Opportunity Cost
The worth of the best option not chosen due to a decision being made.
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