Opportunity Cost Is

question 171

Multiple Choice

Opportunity cost is

• A) what we give up to get something else.
• B) marginal cost divided by total cost.
• C) the same as real cost.
• D) all of the above.

Grasp the concept of prioritizing objectives and the A-B-C priority system.

Understand the elements and importance of a mission statement in organizational planning.

Acquire knowledge about the management by objectives (MBO) cycle and its steps.

Recognize the tools and techniques for project and time management such as PERT and Gantt charts.