The Benefit Foregone by NOT Choosing an Alternative Course of Action

question 84

Multiple Choice

The benefit foregone by NOT choosing an alternative course of action is referred to as a(n) :

• A) variable cost.
• B) sunk cost.
• C) opportunity cost.
• D) incremental cost.

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Definitions:

Role Conflict

This refers to a situation where an individual faces incompatible demands or expectations from different roles they are required to perform, leading to stress or dilemma.

Top-Management Teams

Groups of senior executives who are responsible for the overall strategic direction and management of an organization.

Participative Management

A management style where employees at all levels are encouraged to contribute ideas towards identifying and solving problems, making decisions, and implementing changes.

Interests

The desires or goals that individuals or groups seek to fulfill or achieve, which guide their actions and decisions.