Question
Which of the following statements are true regarding the
principle of Opportunity Cost? 1. Opportunity cost refers to the cost of the next best alternative foregone. 2. Opportunity cost is only applicable in the context of financial transactions. 3. Opportunity cost is a fundamental concept in decision-making. 4. It is not relevant in the case of making long-term investments. Select the correct answer using the code below:Solution
• Statement 1 is correct because opportunity cost refers to the cost of the next best alternative that is forgone when a decision is made. • Statement 2 is incorrect because opportunity cost applies not only to financial transactions but also to any decision involving choices between alternatives. • Statement 3 is correct as opportunity cost is a core principle in economics that influences decision-making. • Statement 4 is incorrect because opportunity cost is applicable to both short-term and long-term decisions, including investments.
Justice Pankaj Mittal has been appointed as the Chief Justice of which High Court?
Kisan Vikas Patra was reintroduced in which year?
Which of the following is a stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually...
Which of the following statements is correct
A. Depository is an agent of Depository Participant (DP)
B. Depository Participants (DPs...
“Adhai-Din-ka-Jhopara’ was built by
Who is the first woman in India to don the second highest rank i.e. Lieutenant General of Indian Armed Forces?
Who among the following was the first Indian woman to win an Olympic medal?
Xiomara Castro has become the first-ever female President of which nation?
Attacking Doti(Katyuri) and Garhwal kingdom without any sound reasons at any time started during the reign of which Chand King?
Which river flows through a rift valley in India?