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What is the concept of opportunity cost?
Opportunity cost is a similar concept to cost of capital, except that it suggests that "your money can only be spent once." The opportunity cost of a purchase is the loss of potential value (monetary or otherwise) incurred because one item is purchased rather than another. For example: the opportunity cost of buying a coat might be the value of having new shoes instead. In supply and demand, the question is of capital and equipment utilization -- how much of other products must you choose not to make in order to make a unit of a product? For example: how many caps will be made instead of gloves, where the opportunity cost is the value of the gloves that will not be made (the choice that was not taken).
The optimization assumption suggests that people make?
Like homoeconomics, it suggests people make choices that serve their own best interests.
Does The positive view of advertising suggests that it contributes to economic efficiency in the economy?
yes
An ''increase in the quantity supplied'' suggests a?
Movement up along the supply curve.
Which General Systems Theory principle suggests that there is generally more then one way to do something?
Flexibilityflexibility
What dimension of opportunity suggests that single men and women are more susceptible to becoming victims of crime?
demographics
The revolution in management that is currently underway suggests that the most effective managers of the future will?
specialize in performing one of the four management functions.
How much time do good project managers spend on each process group?
The PMBOK suggests that project managers spend 75-90 percent of their time communicating. In my personal experience it is much closer to 90 percent.
What does the metaphor 'the chance of a lifetime' mean?
The metaphor "the chance of a lifetime" refers to a unique and possibly unparalleled opportunity that may never come again. It suggests that this opportunity is highly valuable and not to be missed.
Which management concept suggests that low-important decisions be handled by subordinates so that managers can focus on high-important decisions?
participatory management
What is inclusionary management?
Management concept that suggests that low importance decissions be handled by subordinates so that managers can focus on. High importance decisions
What is the definition of Happy Days in the sun?
The phrase happy days in the sun suggests a time when you have the opportunity to enjoy yourself with outdoor activities.
What is the blue ocean strategy of marketing?
Blue Ocean Strategy suggests that an organization should create new demand in an uncontested market space, rather than compete head-to-head with other suppliers in an existing industry
Can hornets remember human faces and use that information to identify and target specific individuals?
Research suggests that hornets can remember human faces and use that information to identify and target specific individuals.
What is the stakeholders?
The stakeholder concept suggests that the managers of a business should take into account their responsibilities to other groups - not just the shareholder group - when making decisions. The concept suggests that businesses can benefit significantly from cooperating with stakeholder groups, incorporating their needs in the decision-making process.
Which management concept suggests that low-importance decisions be handled by subordinates so that managers can focus on high-importance decisions?
participatory management
What is the stakeholder concept?
The stakeholder concept suggests that the managers of a business should take into account their responsibilities to other groups - not just the shareholder group - when making decisions. The concept suggests that businesses can benefit significantly from cooperating with stakeholder groups, incorporating their needs in the decision-making process.
