Act of selecting one option over other options is called as trade off.
Ex:
- education Vs job
- one business idea over another
When trade off is done the firm will consider the cost of next alternative forgone.
This is called as opportunity cost.
Saturday, June 8, 2013
Trade off and opportunity cost (09)
Trade off and opportunity cost
Act of selecting one option over other options is called as trade off.
Ex:
When trade off is done the firm will consider the cost of next alternative forgone.
This is called as opportunity cost.
Act of selecting one option over other options is called as trade off.
Ex:
When trade off is done the firm will consider the cost of next alternative forgone.
This is called as opportunity cost.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment