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प्रश्न
What is opportunity cost?
What do you understand by opportunity cost?
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उत्तर
Opportunity cost or alternative cost is the benefit from the second-best use of the firm's resources that is foregone in order to reap the return from the best use of resources.
Notes
Students should refer to the answer according to the question.
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संबंधित प्रश्न
Write a short note on direct costs.
Overheads are often related to accounting concepts such as fixed cost and ______ cost.
Variable cost is a cost that ______.
Which of the following cost is time based?
It refers to the expenses incurred on those items which are not directly chargeable to production. Salaries of timekeeper, foremen and watchmen are examples of this cost. This cost is incurred for the concern as a whole rather than a particular product.
Wages paid to a labour who was engaged in the production activities can be termed as ______.
Which of the following best describes a fixed cost?
Distinguish between controllable and uncontrollable costs.
Distinguish between shut down cost and sunk cost.
Distinguish between Direct Labour cost and Indirect Labour cost.
The term "variable costs" refers to ______.
Fixed cost per unit decreases when ______.
Amount spent to purchase a machinery is the example of ______ cost.
A cost that is easily traceable to a cost object is known as ______.
"Some costs are semi-variable in nature." Comment.
What is meant by variable cost?
Give an example of Semi-Fixed cost.
Explain with an example, the meaning of fixed costs.
