1.5.5 Business Choices Flashcards
1
Q
Opportunity costs
A
Benefit lost from the next best alternative
(Launching new advertising campaign instead pf investing in training employee)
2
Q
Trade offs
A
In love oss or compromise of another option or factor
(Improving quality in factory may lower quality of products)
3
Q
Choices/options
A
Risk vs reward
Probability of success
Support
Comparing pros and cons
4
Q
Choices/options
A
Risk vs reward
Probability of success
Support
Comparing pros and cons
