Table 2-3 Table 2-3 Shows the Output Per Week of Two Jewelers

question 16

Multiple Choice

Table 2-3

Table 2-3 shows the output per week of two jewelers, Serena and Haley. They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2-3.What is Serena's opportunity cost of making a necklace?

• A) 2 necklaces
• B) 1/2 of a bracelet
• C) 1/2 of a necklace
• D) 3/4 of a bracelet

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Definitions:

Balanced Scorecard

A strategic planning and management system used by organizations to communicate what they are trying to accomplish and measure progress towards their goals.

Performance Measures

Quantitative indicators used to assess how well an organization or individual is achieving its goals and objectives.

Gross Cost

The total cost incurred before deducting any discounts, allowances, or rebates.

Operating Assets

Assets that are used for the day-to-day functioning of a business, excluding investment and non-operational assets.