Explain the concept of opportunity cost, giving at least one example
What will be an ideal response?
Opportunity costs are the value of something that is given up to obtain something else. The cost of going to college includes more than tuition. It also includes the income that a student could have earned by working instead of going to classes.
Business
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The first phase of the systems development life cycle (SDLC) is ________
A) defining the system B) implementing the system C) determining the requirements D) maintaining the system
Business
A major advantage of trade shows is their ability to provide a pre-selected audience of potential customers
Indicate whether the statement is true or false.
Business