An Opportunity Cost

question 68

Multiple Choice

An opportunity cost

• A) can be measured only when the decision involves expenditures of money.
• B) can be measured only when the decision involves spending time on one thing and not on another.
• C) is impossible to measure.
• D) is equal to the value of what is given up to make a purchase or take an action.
• E) exists for every decision made by individuals and businesses,but not by the government.

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Definitions:

Employee Development

A structured process of training, education, and growth opportunities provided by employers to enhance the skills and capabilities of their workforce.

Employer Of Choice

A designation for organizations that are highly desired by potential employees due to their outstanding culture, benefits, and opportunities for career progression.

Excellent Reputation

A high standing or esteem that an entity or individual has earned over time due to their reliability, integrity, and overall performance.

Recruiting Talented People

The process of identifying, attracting, and hiring individuals with the necessary skills and potential for an organization's success.