An Opportunity Cost Is

question 4

Multiple Choice

An opportunity cost is:

• A) the difference in total costs which results from selecting one alternative instead of another.
• B) the benefit forgone by selecting one alternative instead of another.
• C) a cost which may be saved by not adopting an alternative.
• D) a cost which may be shifted to the future with little or no effect on current operations.

---

Definitions:

Two-wire Control

A control circuit configuration where only two conductors are used to complete the circuit between the control device and the equipment being controlled.

Control Components

Elements in an electrical system used to regulate and guide the operation of machinery or circuits.

Pilot Devices

Controls or indicators used in a circuit to monitor, operate, or control the functioning of machinery or equipment.

Two-wire Control

A control circuit configuration using two wires to connect the control element, typically for simple on/off operations.