In microeconomic theory‚ the opportunity cost of a choice is the value of the best alternative forgone‚ in a situation in which a choice needs to be made between several mutually exclusive alternatives given limited resources. Assuming the best choice is made‚ it is the "cost" incurred by not enjoying the benefit that would be had by taking the second best choice available.[1] The New Oxford American Dictionary defines it as "the loss of potential gain from other alternatives when one alternative
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Equal Pay Act There are many laws and regulations that govern how the American work force is compensated. In most cases‚ the laws are set forth to protect the employee against unfair compensation practices. Many of the issues Americans face today are the same issues that existed many years ago. Issues involving labor relations‚ unions‚ and men versus women are many of the same issues we face today involving compensation. The Equal Pay Act is on of great interest to me as it covers compensation
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resources is one of the more basic concepts of economics. Scarcity needs 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 as a result of the decision. Any decision that involves a choice between two or more options has an opportunity cost. Opportunity cost‚ scarcity and trade-off are important in our daily life because it affects us every day in different
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Opportunity of a lifetime The metaphor‚ “When one door closes‚ another opens” is a famous quote by Alexander Graham Bell. When one door closes‚ this finishes the chapter of one aspect of their life. When another door opens‚ becomes an opportunity to start something new. An alternative metaphor that I’ve chosen is “If an opportunity doesn’t knock‚ build a door” presents as an opportunity waiting to happen. But one must work hard for the opportunity and should not expect the reward to happen easily
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Apa sih opportunity cost? Untuk yang pernah belajar ekonomi pasti kenal baik dengan istilah ini‚ tapi buat yang lain‚ opportunity cost is : "...the cost of something in terms of an opportunity foregone (and the benefits that could be received from that opportunity)‚ or the most valuable foregone alternative." (Dictionary.LaborLawTalk.com) Kalau diterjemahkan adalah suatu biaya dari hilangnya suatu kesempatan dalam menggunakan sumber daya tertentu. Kalau kita melihat waktu sebagai sumber daya
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Image Ten [Opportunity Statue] In chapter ten of Habitudes‚ Dr. Tim Elmore talks about how we have to manage our time and manage the opportunities that come our way. We only have “86‚400 seconds each day to use or abuse.” Elmore talked about the statue called Opportunity. He has hair on the front of his face‚ but he is bald in the back. This illustrates how we have to grab the opportunities when they are coming at us because once they pass there is nothing left to grab on to. Elmore mentioned
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one. She has seen him numerous times being tardy for work or calling in sick. She knows she is a better worker and is more efficient. Sue recently took a human resource class at Buffalo State College and she remembers learning about a law regarding equal pay. She can ’t seem to recall the specifics‚ so she is determined to look into it further and fix the problem. Chapter 2 Sue: The Victim Sue is a 35 year old divorcee and mother of two young children. For the past ten years or so she has been
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MySpace Opportunities Founders’ experience Chris DeWolfe and Tom Anderson were able to recognize the opportunity for MySpace due to their previous experience in the expanding Internet market. They both grasped a firm understanding of the Internet advertising market while working together for almost three years on projects that both failed and succeeded. After working at first for Xdrive‚ an Internet data-storage company that fell victim to the dot-com bubble burst‚ DeWolfe and Anderson learned a
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theoretical perspectives in counselling‚ personal centred‚ cognitive behavioural and psychodynamic I will look at the general theory‚ the view of the person in therapy‚ the blocks to functioning of the person in therapy and the goals and techniques of each theory. I will compare and contrast the three approaches looking at the similarities and differences between the three counselling perspectives and how the counsellor in each theory differ in their techniques to counselling their clients. The person
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THE EFFECT OF COUNSELLING ON MARITAL STABILITY AMONG MARRIED COUPLE IN ABEOKUTA SOUTH LOCAL GOVERNMENT‚ OGUN STATE. LIADI OLANREWAJU LUKE MATRIC NO: E011718 DEPARTMENT OF GUIDANCE AND COUNSELLING UNIVERSITY OF IBADAN‚ IBADAN CHAPTER ONE 1.0 INTRODUCTION Counselling is the assistant given to the married couples and the intending couples in order for them to have marital stability. These enabling the couple to enjoy marital satisfaction in their married life. Hence‚ marital will
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