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In economics what is cost?
cost of what you give up to get it
If choosing something means you give up something else what is the economic term for this?
The economic term for the cost of a choice is the opportunity cost.
What economic term for what you lose when using resources for something else?
The economic term for what you lose when using resources for something else is known as opportunity cost.
Which term best describes an economic slowdown?
An economic slowdown is called a recession.
What does the economic term GDP term mean?
Gross Domestic Product
Opportunity cost is?
Opportunity cost is the highest-valued alternative foregone in order to take an economic action.
How do you use the word foregone in a sentence?
The decision to cancel the event was a foregone conclusion once the storm hit.
What is the prefix for go?
semi
What is revenue foregone?
Revenue foregone is an adjustment to the rates tariff. It is a rates rebate that is generally available to all ratepayers of a particular category; e.g. residential land use. Therefore the revenue was never there to be collected (the revenue was foregone), and so should not be considered to be revenue in the first instance.
In economics what is cost?
cost of what you give up to get it
What is an term for sacrifice in Islam?
al-Adha (Festival of Sacrifice)
If choosing something means you give up something else what is the economic term for this?
The economic term for the cost of a choice is the opportunity cost.
What is the economic term for the money that is received from the sale of goods and services?
The economic term for the money received from the sale of goods and services is "revenue." Revenue is a crucial metric for businesses as it represents the income generated from their primary activities. It is calculated by multiplying the price of goods or services by the quantity sold. Revenue is a key component in determining a company's profitability and overall financial health.
What economic term for what you lose when using resources for something else?
The economic term for what you lose when using resources for something else is known as opportunity cost.
Which term best describes an economic slowdown?
An economic slowdown is called a recession.
What does a foregone conclusion mean?
A foregone conclusion refers to an outcome that is anticipated or expected to happen based on the circumstances or evidence available. It suggests that the result is already determined or inevitable before it actually occurs.
What does the economic term GDP term mean?
Gross Domestic Product
