Examlex
Executives who have extensive knowledge of the behaviors that lead to effective performance tend to focus on evaluating the objective performance results of their subordinate managers.
Inputs
In economics, inputs are the resources used in the production of goods and services, such as labor, materials, and capital.
Trade-off
A situation where making a decision to gain one thing requires sacrificing another.
Opportunity Cost
The loss of potential gain from other alternatives when one alternative is chosen over others.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision or choosing to do one thing instead of another.
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