An Opportunity Cost

question 158

Multiple Choice

An opportunity cost:

• A)Is an unavoidable cost because it remains the same regardless of the alternative chosen.
• B)Requires a current outlay of cash.
• C)Results from past managerial decisions.
• D)Is the potential benefit lost by choosing a specific alternative course of action among two or more.
• E)Is irrelevant in decision making because it occurred in the past.

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Definitions:

Absolute Refractory

A period immediately following the transmission of a nerve impulse when a neuron cannot be stimulated to transmit another impulse, regardless of the strength of the incoming signal.

Relative Refractory

A phase following the absolute refractory period during which a neuron or muscle cell requires a stronger than normal stimulus to respond.

Period

An interval of geologic time that is a subdivision of an era; each period is divided into epochs.

Humanitarian Concern

Refers to the care, empathy, and actions taken to improve the welfare and happiness of people, especially those in crisis or need.