The Cost of a Choice Is

question 6

Multiple Choice

The cost of a choice is

• A)the price of the product selected.
• B)the price of the product not selected.
• C)the next best opportunity.
• D)all of the opportunities given up.

Acknowledge the importance of action verbs in highlighting qualifications on a résumé.

Understand the use and formatting of plain-text résumés for electronic applications.

Understand the differences between various forms of partnerships and their characteristics.

Comprehend the mechanics of partner equity accounts including contributions, withdrawals, and allocation of income or loss.

---

Definitions:

Movement

Refers to a change in position, location, or state of an object or concept over time.

Substitute Goods

These are goods that can be used in place of one another, such that the increase in price of one leads to an increase in demand for the other.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price.

Demand

The desire and willingness of consumers to purchase goods or services at a given price level.