The producer price index is an index that tracks the price of all goods and services produced domestically.
What is the producer price index?The producer price index is an index that measures the changes in the price of goods and service that are produced in a given period in an economy.
The producer price index measures changes in price using the wholesale prices. In the US, the The producer price index is published monthly. The producer price index in the United States as at September 2022 is 8.5%.
The producer price index measures inflation. Inflation is when there is a persistent rise in the general price levels in an economy. The The producer price index is not the same as the consumer price index. The consumer price index measures the average price that consumers pay over time for a representative basket of goods and services.
To learn more about the producer price index, please check: https://brainly.com/question/14321574
#SPJ1
Suppose someone believes that if a per-unit tax is placed on the producers of good y, the consumers of good y will end up paying the full tax. This person assumes that the demand curve for good y is.
Suppose someone believes that if a per-unit tax is placed on the producers of good y, the consumers of good y will end up paying the full tax. This person assumes that the demand curve for good y is perfectly inelastic.
What do you mean by perfectly inelastic good?The demand for a good or service would not fluctuate independent of price if it were perfectly inelastic, but neither of these things exists. The difference between elastic and inelastic is that the latter experiences considerable variations in demand when the price changes.
Which demand curve is perfectly inelastic?The demand curve is said to be perfectly inelastic when there is no change in demand regardless of price. As a result, the demand curve is a vertical curve that is perpendicular to the OY axis.
To know more about perfectly inelastic visit:
https://brainly.com/question/14450755
#SPJ9
for each of the following, explain whether you think the situation is efficient or not. if it is not efficient, why not? what actions would make it efficient?
On the approach option A, and option B are not efficient. But Option C is efficient. because The number of students enrolled in a particular subject exceeds the number of available spots. Some students who need to take this course to fulfill their major requirements are unable to enroll, whereas others who take it as an elective are able to.
A) This approach is not efficient. Many students would benefit from turning down the lights, while no one else would suffer since the institution would save money on the power that it could spend on student programming.
Residents do not consider the negative side impact they impose on their institution by keeping lights and appliances on when they leave their rooms. If students were compelled to pay their power bills (that is, if the cost of their activities was fully considered), they would switch off lights and appliances while leaving their rooms.
B) This would be not an efficient scenario. This is inefficient. Rather than presenting meals that many guests dislike.
C) Efficient, The number of students enrolled in a given subject exceeds the number of available places. Some students who need to take this course to satisfy their major cannot acquire a place, although others who take it as an elective do.
To know more about the word efficient, used the following link.
https://brainly.com/question/20560983
The complete Question is :
Explain if you believe the scenario is efficient or not in each of the following examples. Why not if it is inefficient? What activities would be most effective in this situation?
a. Electricity is included with your dorm cost. Some dorm students leave lights, laptops, and appliances on when they leave their rooms.
b. Even though they both cost the same to prepare, the cafeteria in your dorm continually serves too many meals that diners dislike, such as tofu casserole, and too few dishes that diners enjoy, such as roast turkey with dressing.
c. The number of students enrolled in a given subject exceeds the number of available places. Some students who need to take this course to satisfy their major cannot acquire a place, although others who take it as an elective do.
#SPJ9
Bob just turned 66 years old and is considering retirement. his average annual salary over the last 35 years is $50,760. assuming that he will recieve 42% of his average annual salary, what will be his annual social security benefit? a. $2,131.92 b. $21,319.20 c. $213,192.00 d. $2,131,920.00 please select the best answer from the choices provided a b c d
If Bob has an average annual salary of $50,760 and he will receive 42% of his average annual salary then his annual social security benefit will be b. $21,319.20
The annual social security benefit can be determined by using multiplication. There are four basic arithmetic operations, one of which is multiplication which can be described as a process of repeated addition of the same number.
To solve this problem, we multiply the given percentage of his average annual salary that he will receive as his annual social security benefit by his average annual salary as follows;
annual social security benefit = 42% × 50,760
annual social security benefit = 42/100 × 50,760
annual social security benefit = $21,319.20
Hence, the annual social security benefit that Bob will receive is calculated to be $21,319.20
To learn more about multiplication, click here:
https://brainly.com/question/1135170
#SPJ4
When marketers evaluate the attractiveness of each potential segment and decide in which of these groups they will invest resources to try to turn them into customers, they are engaging in ________.
When marketers evaluate the attractiveness of each potential segment and decide in which of these groups, they are engaging in targeting.
A serviceable obtainable market also known as a target market, can be defined as a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A serviceable obtainable market is a subset of the total market for a service or product. Target market used to helps increase the effectivity of the campaign.
There are 5 different types of targeting, such as:
Behavioral Targeting Contextual TargetingSearch RetargetingSite RetargetingPredictive TargetingLearn more about target marketing here https://brainly.com/question/13363009
#SPJ4
When a movie trailer is released far in advance of the release of the movie itself, what marketing concept is
MOST likely being used?
push marketing
content
hype
buzz
Answer:
it's either hype or buzz
Answer: hype
Explanation:
Shares of apple are currently trading at approximately $129. Placing an order to buying 1000 shares but only when the stock price hits $125 is known as a.
Shares of apple are currently trading at approximately $129. Placing an order to buying 1000 shares but only when the stock price hits $125 is known as a Limit Order.
A limit order is a buy/sell order that specifies a maximum price to be paid or a minimum price to be received for a stock (the "limit price"). Only at the specified limit price or better will the order be filled.
A limit order advises your broker to fill your buy or sell order at a certain price or better and is visible to the market. When a stop price is reached, a stop order, which is invisible to the market, activates a market order.
An order to purchase or sell a security at a certain price or higher is known as a limit order. Only at the limit price or lower can a purchase limit order be fulfilled, and only at the limit price or greater can a sell limit order be fulfilled. Example: A buyer wishes to pay no more than $10.28 a share for shares of ABC stock.
Learn more about trading:
https://brainly.com/question/25818989
#SPJ4
The complete question is ''Shares of Apple are currently trading at approximately $129. Placing an order to buying 1000 shares BUT only when the stock price hits $125 is known as a
A) Stop-Loss Order
B) Market Order
C) Limit Order
D) Shorting
productivity is measured as group of answer choices the change in total production over time. the number of hours of work per month per worker. an increase in the gdp of a nation. the dollar value of a worker’s hour of work.
Labor productivity is measured as group of answer choices the change in total production over time.
The required details about Labor productivity is mentioned below.
Labor productivity is a measure of a country's economy's hourly output.. It displays data on the real gross domestic product (GDP) generated by an hour of labor. Three primary components—saving for and investing in physical capital, new technology, and human capital—are necessary for increasing labor productivity.
What the actual GDP means
The gross domestic product (GDP) of a nation is a monetary indicator of the final products and services—those purchased by the consumer—that were created over a specific time period (say a quarter or a year). It tracks all domestic production that occurs within a country's borders.
To learn about GDP, visit here.
https://brainly.com/question/1383956
#SPJ4
Suppose a basket of goods and services has been selected to calculate the cpi. In 2002, the basket’s cost was $80; in 2008, the basket’s cost was $92; and in 2010, the basket’s cost was $108. The base year must be?.
Good and services -The available data makes it impossible to determine the base year.
What is good and services?
Items that are typically (but not always) tangible are referred to as goods. Examples include pens, real books, salt, apples, doctors, lawn care providers, dentists, barbers, waiters, online servers, digital books, digital video games, and digital movies. All economic activity and trade are supported by the production, distribution, and consumption of goods and services when taken as a whole. Although businesses also consume goods and services in the process of producing other goods and services, economic theory assumes that consumption of goods and services results in utility (satisfaction) for the consumer or end-user (see: Distribution: Channels and intermediaries).
A time series' starting point in time is referred to as the base year. Base years are often years that divide evenly by five. Base year is indicated in releases as, for instance, 2010 = 100 or 2015 = 100. The base year's average index point value is 100.
To know about base year in given link
https://brainly.com/question/6616777
#SPJ9
When considering sales and operations planning for services, a strategy to vary workforce levels, where additional full-time or part time employees are hired during peak demand periods while a smaller, permanent staff is maintained year-round is known as?.
[tex] \: \huge \tt{\green{A}{\orange{n}s{\blue{W}{\pink{e}{\purple{r}}}}}} \\ \\ \: \: \rightarrow \: \sf \: \: Tiered \: \: workforce[/tex]
chad has received the following income and benefits during the current year: $65,000 salary, $4,800 employer-provided health insurance, $1,500 municipal bond interest, $2,000 dividend income, $500 from a partnership, and a $10,000 judgment for lost wages due to an age discrimination lawsuit. what amounts should chad include in his gross income? (check all that apply.)
The amounts should chad include in his gross income is $2000 dividend income, $500 partnership income, $10,000 judgement, $65,000 salary.
What is dividend income?Dividends are sums of money given to you by a corporation in exchange for your ownership of its stock. You must report your dividend income to Revenue since it is taxable.
If the sum of payments you receive that were not subject to Pay As You Earn (PAYE) tax is:
If you earn less than €5,000 per year, use my Account to report it on your Form 12 Income Tax Return. If you earn more than €5,000 per year, you must sign up for self-assessment. File your tax return (Form 11) on Revenue Online Services after registering (ROS).
Your other income is increased by dividend income. Your overall income as well as your unique circumstances determine the income tax (IT) rate you will pay.
to know more about dividends check the link given below:
brainly.com/question/17438552
#SPJ9
as a project manager, you would use the stakeholder analysis matrix to manage communications with external entities such as customers, vendors, and regulatory bodies.
The statement above is false. Because the correct order of tasks in a stakeholder analysis is not manage communications with external entities such as customers, vendors, and regulatory bodies.
Stakeholder analysis can be defined as the process of assessing a system and potential changes to it as they relate to relevant and interested parties.
There are three essential steps in stakeholder analysis, such as:
1) Stakeholder analysis is used to identifying the key stakeholders and their interests (positive or negative) in the project;
2) Stakeholder analysis is used to assessing the influence of, importance of, and level of impact upon each stakeholder;
3) Stakeholder analysis is used to identifying how best to engage stakeholders.
Learn more about stakeholder analysis here https://brainly.com/question/28287319
#SPJ4
what measures the change in prices of a basket of goods and services in a given year
recession
depression
deflation
inflation
The measure of changes in the price of a basket of goods and services in a given year is inflation.
What is inflation?
Inflation is when there is a persistent and consistent increase in the general price levels in an economy. Inflation can be caused by an increase in the cost of production or an increase in the demand for goods and services.
Demand pull inflation occurs as a result of an excess of demand over supply. When demand exceeds supply, prices rise. Cost push inflation occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the result.
To learn more about inflation, please check: https://brainly.com/question/28136474
#SPJ1
Grandma’s bakery wants to begin selling gluten-free products and vegan products. The c-suite executives have made the decision and are now wanting the change implemented. Whose planning will move this from the decision level into production?.
Grandma’s bakery wants to begin selling gluten-free products and vegan products. Functional manager's planning will move this from the decision level into the production
This is further explained below.
Who is a Functional manager'?Generally, A company's functional managers are the individuals who are in charge of carrying out the activities of the company.
These types of executives receive orders from the owners of the company, also known as stakeholders, after an analysis of what path the company should take according to the current conditions of the market.
This allows the managers of the organization to put the plan into action within the activities of the organization.
In conclusion, The bakery owned by Grandma would want to start offering gluten-free items as well as vegan products. The planning that is done by functional managers will transfer this from the decision level into the production level.
Read more about Functional managers
https://brainly.com/question/15351742
#SPJ1
when dell sells various laptops, it also preinstalls microsoft office and other software that customers order at a discount before the laptop is shipped. this is an example of
This is an example of bundle pricing.The package pricing method is well-liked in E- Commerce and retail since it provides greater value for the money.
What is bundle pricing?The practice of bundling complementary goods and services under one price (typically at a discount) is known as bundle pricing. Customers perceive the value of these bundles to be higher, and the company gains from increased average revenue per user (ARPU) and user engagement.For instance, you could offer your customers the opportunity to purchase a bundle that includes a pencil, eraser, and sharpener rather than just a single pencil. This would encourage them to buy more than one item, which would raise the average order value.Learn more about bundle pricing here:
https://brainly.com/question/23175408
#SPJ9
a company has the following products in its ending inventory. compute lower of cost or market for inventory applied separately to each product productquantitycost per unitmarket per unit product a10$ 724$ 694 product b15$ 524$ 564 product c20$ 674$ 699 multiple choice $28,280. $1,922. $1,957. $28,580. $29,380.
From the choices given, it is correct to state that the Lower Cost or Market for the Inventory applied separately to each product is $28,280. (Option A) See the explanation below.
What is Lower Cost or Market for the Inventory rule?According to the lower cost or market rule, a company must record the cost of inventory at whichever cost is lower - the original cost or the current market price. This condition usually occurs when inventory has deteriorated or become outdated, or when market values have fallen.
The computation showing the above solution is given as follows:
Solved using Worksheet:
Step I - Multiply all Quantity by Cost per Unit to get the Total Cost.
Step II - Multiply all Quantities by Market Per Unit to get the Total Market Cost.
Step III - For each product category select which cost is less either Total market Cost OR Total Cost [Not both]
In this case, we have:
$6,940 + 7,860 + 13,480 = 28, 280 (Option A). See attached image.
Learn more about the Lower cost or market inventory rule:
https://brainly.com/question/17033873
#SPJ1
Manganese-52 has a half-life of 6 days. how many days would a scientist have to wait for the radioactivity to be 12.5% the starting amount? 6 12 18 24
Answer:
5%
Explanation:
Let the number of half life be n : Now, number of days required is : So, required time to reach 12. 5% is 18 days.
Workforce Trends refers to...
A) Labor Workforce
B) Employers
C) Employees
Workforce trend refers to employers.
The workplace is a dynamic setting that constantly changes as the corporation looks to develop new strategies for success. Every organization looks forward to bettering its current practices. These adjustments would affect people's behavior as well as how the organization operates. Workforce trends are the alterations that the workplace has undergone over time.
Organizations should closely monitor workplace trends so they can assess how the changes will affect their operations. The management/employer is better able to comprehend the trends, and they are then followed. Better benefits, motivating workers to have a flexible work-life balance, or even upgrading cubicles by switching to an open-concept floor plan are just a few examples of workforce trends.
Read more about workforce trends on:
https://brainly.com/question/14971057
#SPJ1
Damon is a small business entrepreneur. He has certain business goals in mind. However, his employees are unable to deliver the necessary results
because Damon does not articulate the goals clearly. Which entrepreneurial skill does Damon lack?
Damon does not articulate the goals clearly the entrepreneurial skill does Damon lack Communication.
What do you mean by entrepreneurial skills?Entrepreneurship requires a variety of abilities, including leadership, business management, time management, creative problem-solving, and leadership. These abilities are transferable to numerous professions and sectors. These entrepreneurial abilities are essential for fostering creativity, business expansion, and competition.
What is the greatest way to define communication?Definition of communication according to 1a: the exchange of information between people using a shared set of signs, behaviors, or symbols. Pheromones are also used in insect communication.
To Know more about goals
https://brainly.com/question/21032773
#SPJ9
magnanimous company uses a predetermined overhead rate of $12 per direct labor hour to apply overhead. during the year, 30,000 direct labor hours were worked. actual overhead costs for the year were $320,000. the overhead variance is
The overhead variance is calculated to be $40,000 over-applied if the overhead rate is predetermined to be $12 per hour and the actual overhead cost were $320,000.
The overhead variance can be determined by subtracting the actual overhead from the applied overhead.
The actual overhead cost is known to be $320,000.
The applied overhead cost can be calculated as follows;
applied overhead = overhead rate × direct labor hours
Here, overhead rate = $12 per direct labor hour
direct labor hours = 30,000
Therefore,
applied overhead = 12 × 30,000
applied overhead = $360,000
Now the overhead variance can be calculated by subtraction;
overhead variance = 360,000 - 320,000 = $40,000
Hence the predetermined overhead cost is calculated to be $40,000 over-applied from the actual overhead cost.
To learn more about overhead costs, click here:
https://brainly.com/question/13037939
#SPJ4
what is the purpose of preparing an adjusted trial balance? multiple choice question. to ensure that all transactions have been recorded to ensure that total debits equal total credits after the adjustments have been recorded to ensure that the correct accounts have been adjusted to ensure that there have been no errors in recording the transactions
The purpose of preparing an adjusted trial balance to ensure that total debits equal total credits after the adjustments have been recorded.
A trial balance is a financial report that shows the closing balances of all accounts in your general ledger at a point in time. Creating a trial balance is the first step towards closing the books at the end of the accounting period.
There are three types of Trial Balance: Unadjusted Trial Balance, Adjusted Trial Balance, and Post-Closing Trial Balance. Each is used at different stages of the billing cycle.
A ledger is an account-by-account summary of business transactions recorded in a journal. A mock trial Balance sheet is a statement produced at the end of a fiscal year to show the debit or credit balances of all general ledger accounts.
Learn more about Trial Balance https://brainly.com/question/24914390
#SPJ1
A merchandiser returned inventory worth $1900 that was purchased on account. in a periodic inventory system, the journal entry to record the return would include ________.
A merchandiser returned inventory worth $1900 that was purchased on account. in a periodic inventory system, the journal entry to record the return would include a debit to Accounts Payable for $1,900 and a $1,900 credit to Purchase Returns & Allowances.
It must include a debit to Accounts Payable for $1,900 and a $1,900 credit to purchase returns & allowances because at the time of purchase the accounts payable account would have been credited. In order to give the effect of returns and allowances, the accounts payable account, at the time of return is debited. Also, the purchase returns and allowance account is credited with an amount equal to that of the return value of the goods
Learn more about journal entries here:
https://brainly.com/question/26446159
#SPJ4
lenore, incorporated gathered the following information from its accounting records and the october bank statement to prepare the october bank reconciliation:
If Lenore, Inc. gathered the following information from its accounting records and the October bank statement. The up-to-date ending cash balance on October 31 is: $6,710.
Ending cash balanceUsing this formula to determine or find the up-to-date ending cash balance
October up-to-date ending cash balance = Ending cash balance per books + Interest received from the bank − Bank service charge − NSF
Let plug in the formula
October up-to-date ending cash balance = $5,400 + $1,800 − $220 − $270
October up-to-date ending cash balance = $6,710
Therefore we can conclude that the ending cash balance is the amount of #6,170
Learn more about ending cash balance here: https://brainly.com/question/14467401
#SPJ1
The complete question is:
Lenore, Inc. gathered the following information from its accounting records and the October bank statement to prepare the October bank reconciliation:
Ending cash balance per books, 10/31 $ 5,400
Deposits in transit 530
Interest received from bank 1,800
Bank service charge for check printing 220
Outstanding checks 3,900
NSF check of T. Owens 270
The up-to-date ending cash balance on October 31 is:
.
the 2007–2009 recession began with reductions in investment and consumption spending, precipitated by a financial crisis. this explanation for the recession is consistent with
Based on the fact that the recession in 2007–2009 started with investment and consumption spending reducing, this explanation goes along with the C. the mainstream view of macroeconomic instability.
What happened in 2007 - 2009 economically?The period between 2007 and 2009 saw one of the worst economic problems the world had ever gone through with the Great Recession. During this time, the United States and many nations around the world, saw their economies go into recession and unemployment rates go through the roof.
Before this recession happened, there were signs that it was coming such as the reduction in investment and consumption spending, which are factors that drive economic growth.
This shows that the explanation by the mainstream view of macroeconomic instability on why recessions happen is correct, as this view believes that a slowdown in economic factors like investment, will cause economic recessions.
Options for this question are:
A. the monetarist view of macroeconomic instability.B. the rational expectations view of macroeconomic instability.C. the mainstream view of macroeconomic instability.D. none of these views of macroeconomic instability.Find out more on recessions at https://brainly.com/question/15849581
#SPJ1
economic regulations are illustrated by which action? group of answer choices allowing market forces to set prices. preventing anticompetitive business practices. providing protection of pension benefits. ensuring safe working conditions.
Economic regulations are illustrated by preventing anticompetitive business practices. Thus, the correct option is B). Preventing anticompetitive business practice.
What are the economic regulations?“Economic regulation” refers to the rules that limit the different activities related to the business organization like who can enter a business and what prices they may charge.
Economic regulations plays a very significant role in an economy as it focuses on the on the pursuit of economic efficiency.
Basically, economic regulations refers to the application of law by government or regulatory agencies for various purposes.
Learn more about economic regulations here:-
https://brainly.com/question/11223279
#SPJ1
A wedding party hired a sole proprietorship to cater their wedding. In this situation the sole proprietorship is a corporation and the employee who handled the job is a partner. If the sole proprietorship is a corporation and its employee poisons the cake, can the shareholders of the corporation be liable?
often
sometimes
rarely
always
If the sole proprietorship is a corporation and its employee poisons the cake, the shareholders of the corporation can be always liable.
So, the correct option is D.
The employee of the sole proprietorship is also responsible because he finished the entire assignment. A wedding party hired a caterer to cater their celebration. In this case, the sole proprietorship is a partnership, and the employee who fulfilled the task is a partner. A sole proprietorship is managed and owned by a single person.
To assist in managing the company, the owner may hire staff. The workers do not continue to be employees; they are business partners. Any debts incurred by the business are seen as the owner's responsibility.
Learn to know more about proprietorship at
brainly.com/question/12913114
#SPJ1
suppose that the government changes the tax code to allow additional amounts of money to be placed in 401(k) retirement accounts, increasing the extent to which people can delay their tax obligations. show the effect by shifting the appropriate curve in the market for loanable funds.
Private investment would rise as borrowing costs dropped as a result of this model.
The effect can be observed by shifting the supply curve to the right and the demand curve stays where it is, as shown in the graph.
What are supply and demand graphs?The price of an item and the volume supplied by producers are depicted by a supply curve. In the scenario of perfect competition, firms will increase output if the marginal cost of producing an additional unit is lower than the price they are paid on the market.A demand curve represents the amount of a specific good that buyers are willing and able to purchase at various prices, providing all other drivers of demand are held constant, such as income, tastes and preferences, and the pricing of alternative and complementary commodities. The demand curve constantly slopes downward in accordance with the law of demand, which means that when the price drops, people will purchase more of the product.To learn more about supply and demand graphs, refer to:
https://brainly.com/question/17043184
#SPJ9
janie is 15 years old and lives in tampa, florida. this summer she was hoping to get a job as taking care of kids at the large childcare facility near her home. the day that school gets out, she heads over to the facility to apply for a job. why won’t janie be able to get this job?
Janie cannot get this job as she applies because mere work experience does not help to get a job, one must also have a dedicated full time degree in that field to be specialized which would increase probability of getting that job.
The faculty of the job needs to be specialized in child care and psychology for the better development and understanding of the child and its mind. The child psychology is an area of work experience mandatory to handle children in childcare facility.
A full time degree for equipping well knowledge of handling various kinds of children is able to get a good job with a suitable profile.
To learn more about probability getting job here,
https://brainly.com/question/14773502
#SPJ1
a forecasting framework for predicting perceived fatigue: using time series methods to forecast ratings of perceived exertion with features from wearable sensors
If our work is based on a forecasting framework for predicting perceived fatigue our research would be aimed to investigate the availability of predicting perceived fatigue.
We can collect a novel data set presuming the time series analysis that could include the sample size of 60 participants of the people who follow exercise. Result, each subject must be provided with a subjective exhaustion measurement during the training, which can be further used as the target variable for prediction purposes. The system might not work very well the initial few times, but it might eventually adjust to the circumstances.
Result, it is necessary for the application of applied research to assess previously taught machine learning models for fatigue prediction in the real world.
For more questions like Forecasting Framework visit the link below:
https://brainly.com/question/15542776
#SPJ4
Why does the united states have limited to no trade with countries like cuba and venezuela?.
In reaction to specific measures made by the Cuban government, Kennedy declared an embargo on trade between the two countries. He then gave the Departments of Commerce and the Treasury the authority to enact the embargo, which is still in effect today.
How was Cuban government?Founded on the "one state, one party" tenet, Cuba has had a socialist political system since 1959. In accordance with its constitution, Cuba is a Marxist-Leninist socialist nation, with its political philosophies influenced in part by those of Friedrich Engels, Vladimir Lenin, and Karl Marx, one of the founders of historical materialism. The Cuban government asserts that, despite being perceived as a one-party Communist state, José Mart's nationalist philosophy is the primary factor influencing Cuban politics. The Communist Party of Cuba is described as the "leading force of society and of the state" in the current Cuban Constitution, which was approved in a referendum in 2019. It is also given the power to decide on national policy.
To learn more about Cuban government, visit:
https://brainly.com/question/11110109
#SPJ4
complete the sentence
is the sacrifice involved in making on decision over another
An opportunity cost is the sacrifice involved in making on decision over another.
What is an Opportunity costs?It is an important concept in economics that represent the potential benefits that an individual, investor, business etc misses out on when choosing one alternative over another. The term opportunity costs can be easily overlooked but when we understand the potential missed opportunities when a business or individual chooses one investment over another, then, its allows for better decision making.
That said, it is seen as the forgone benefit that would have been derived from an option not chosen. In other to evaluate it, the costs & benefits of every option available must be considered and weighed against the others.
Examples is the scenario of investing in a new manufacturing plant in Los Angeles as opposed to Mexico City while deciding not to upgrade company equipment or opting for the most expensive product packaging option over cheaper options.
Read more about Opportunity costs
brainly.com/question/1549591
#SPJ1