Opportunity Cost Scarcity of resources is one of the more basic concepts of economics. Scarcity necessitates trade-offs‚ and trade-offs result in an opportunity cost. While the cost of a good or service often is thought of in monetary terms‚ the opportunity cost of a decision is based on what must be given up (the next best alternative) as a result of the decision. Any decision that involves a choice between two or more options has an opportunity cost. Opportunity cost contrasts to accounting
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The Career Opportunities for BSHRM Graduates The research aims to determine the performance of the Hotel and Restaurant Management graduated students particularly in University of Caloocan City – Camarin Campus. The researchers would like to know whether they excel on their chosen career. They decided to take on this study to know and understand different opinions from the BSHRM graduating and non- graduating students. As we all know‚ as we all know‚ the Bachelor of
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Malaysia signed a free trade agreement (FTA) between India for strengthen economic ties purpose and double bilateral trade up to $15billion. This agreement is to complement existing free trade deal between India and Association of South-East-Asian-Nations (ASEAN). Under this agreement‚ two countries are fully allowing foreign shareholding over 80 sectors including automotive and manufacture industry. Moreover‚ Comprehensive Economic Cooperation Agreement (CECA) marks on new era bilateral ties that serve
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On February 1‚ 1968 Pennsylvania railroad and New York Central Railroad merged together‚ which at the time of publishing “Deals from Hell” (2005) was the largest US corporate merger. National interest was at stake due to the magnitude of this union as it was estimated to contribute 3% of national GDP and should the corporate entities fail it would also lead to an estimated 3% unemployment as well. Unfortunately this merger was doomed for failure only 29 months later when bankruptcy was filed as
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travelled so far to get a piece of‚ there is more work then thought. The railroads changed all of that worry and hard labor. On September 8th‚ 1883 the railroad came to Washington State making almost everything alot easier. The railroads had a major influence on washintons development. The railroad effected the economic‚ geographic‚ and cultural aspects of Washington State. The railroads had a major impact on the economic attributes of washington state. Moving products that were to be sold was alot
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Equal opportunity is a stipulation that all people should be treated similarly‚ unhampered by artificial barriers or prejudices or preferences‚ except when particular “distinctions can be explicitly justified. The aim according to this often "complex and contested concept" is that important jobs should go to those “most qualified” – persons most likely to perform ably in a given task – and not go to persons for arbitrary or irrelevant reasons‚ such as circumstances of birth‚ upbringing‚ friendship
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The Underground Railroad began in the 1780s while Harriet Tubman was born six decades later in antebellum America. The Underground Railroad was successful in its quest to free slaves; it even made the South pass two acts in a vain attempt to stop its tracks. Then‚ Harriet Tubman‚ an African-American with an incredulous conviction to lead her people to the light‚ joins the Underground Railroad’s cause becoming one of the leading conductors in the railroad. The Underground Railroad and Harriet Tubman
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challenge for almost all nations in the world including the developed. But it is in the 3rd world countries that such unemployment has a deep social‚ political and economic clasp. Developed nations have the advantage of being more organized economically and therefore any alarming rise in unemployment level can be somewhat neutralized by economic policies of the government. In case of India the immense diversity hinders any policy or program’s effective penetration into the core of the target population
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Roll- PGDM12F004‚ Class Serial No- 4. Economics Assignment- Opportunity Cost Lets start with a small introduction to the topic Opportunity Cost. Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative forgone (that is not chosen). It is the sacrifice related to the second best choice available to someone‚ or group‚ who has picked among several mutually exclusive choices. The opportunity cost is also the "cost" (as a lost benefit)
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The Railroads Role in the Settlement of the West One of the largest contributing factors in the settling of the American West was the completion of the transcontinental railroad. Development was a slow process in much of the west‚ due in large part to how long the journey took. The completion of the railroad made it both a faster and much safer way to travel across the country. In 1862‚ the Pacific Railroad Act was signed. It promised federal support to build the first transcontinental railroad
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