________ Refer to the Value Forgone in Order to Make

question 84

Multiple Choice

________ refer to the value forgone in order to make one particular investment instead of another.

• A)Opportunity costs
• B)Sunk costs
• C)Relevant costs
• D)Irrelevant costs

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Definitions:

Income Quintile

A method of dividing a population into five equal groups based on their income levels.

Lowest Quintile

The segment of a population that falls within the bottom 20% in terms of income distribution or other statistical measurement.

Gini Ratio

A tool to evaluate income discrepancies within a group, spanning from 0, which means everyone earns the same, to 1, where one person has all the income.

Slovak Republic

A landlocked country in Central Europe, known as Slovakia, with a parliamentary democratic republic government system.