Opportunity Cost Is the Cost of Exploiting a Choice

question 6

True/False

Opportunity cost is the cost of exploiting a choice.

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Definitions:

Customer Follow-Up

The practice of making subsequent contacts with customers after a sale, aiming to ensure satisfaction, gather feedback, or encourage repeat business.

Virtual Office

A venue (home, vehicle, hotel room, or even local coffee shop) where salespeople are able to conduct business with the help of technology.

Technology

The application of scientific knowledge for practical purposes, especially in industry and improvements in tools, machines, systems, and devices.

Gross Profit

The financial gain made after deducting the costs of goods sold from total sales revenue.