Jen Won $900 in a Lottery

question 1

Multiple Choice

Jen won $900 in a lottery.She has a choice between using the money to buy a sofa,a television,or going on a vacation.If she chooses to buy a television,the opportunity cost of this decision is

• A) zero because she won the money.
• B) the sofa and the vacation trip.
• C) the sofa, the vacation trip, and $900.
• D) the sofa if that was her second choice.

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Definitions:

Supply Chain Costs

All expenses associated with the production and delivery of a company's products from raw materials sourcing to final delivery to the customer.

ROA

Return On Assets, a financial ratio indicating the profitability of a company relative to its total assets, showcasing how efficiently a company uses its assets to generate earnings.

Metric Classification Scheme

A structured framework for categorizing and assessing various metrics or measurements based on predefined criteria to evaluate performance, progress, or outcomes.

SCOR Model

Supply Chain Operations Reference model; a diagnostic tool for supply chain management, covering all business processes and measuring total supply chain performance.