You Decide to Drive Your Car on a Long Road

question 125

Multiple Choice

You decide to drive your car on a long road trip of 1,500 miles.The opportunity cost of driving your car:

• A) is the amount of money spent on gas.
• B) is zero because the car is paid for.
• C) includes lost wages you could have earned instead of driving.
• D) the total expenses of the trip in the end.

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Definitions:

Long-Term Objectives

Refers to goals an organization aims to achieve over an extended period, usually over several years, supporting the achievement of its vision and mission.

Marketing Research

The systematic gathering, recording, and analyzing of data about issues related to marketing products and services.

Research Plan

A detailed outline of the objectives, methodologies, timeline, and resources required for conducting a research project.