The Concept of Opportunity Cost Exists Because

question 186

Multiple Choice

The concept of opportunity cost exists because

• A) resources are scarce.
• B) goods have different prices.
• C) shortages occur.
• D) the value of services is hard to determine.

---

Definitions:

Emergent Strategies

Emergent strategies develop over time as managers learn from and respond to experience.

Managerial Learning Curve

The process by which managers gain experiential knowledge that improves their decision-making, efficiency, and effectiveness over time.

Unrelated Diversification

A business strategy where a company expands into industries or markets that are not related to its existing business activities.

Acquiring New Businesses

The process by which a company purchases or takes over other businesses to expand its operations, market reach, or product offerings.