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Card 1 of 24

In business decision-making, what is the value of the next best alternative given up called?

A

Opportunity cost.

B

Marginal cost.

C

Sunk cost.

D

Fixed cost.

Card 1 of 24

Decision-making models Flashcards

  1. A Level
  2. /Business
  3. /Decision-making models

24 flashcards on Eduqas A Level Business Decision-making models: the key terms, formulae and case studies you need to recall for Component 1, Component 2 and Component 3.

Flashcards