Examlex
Evaluate the expression and write the result in the form .
Opportunity Cost
The expense incurred by not choosing the second-best option during decision-making.
Managerial Decision
Choices or judgments made by managers in the context of strategic planning and resource allocation to achieve business objectives.
Short-term
Referring to a period of time typically less than one year, used in context of planning, finance, or objectives.
Outsourcing
The practice of hiring third parties to perform services or produce goods traditionally done in-house, often to cut costs.
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