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प्रश्न
What is opportunity cost?
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.
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संबंधित प्रश्न
Write a short note on Direct costs.
A firm has to pay a fixed rent of ₹ 500 for the postpaid mobile bill and further pay extra charges for the calls made in a month. Identify the type of cost mentioned here.
Describe cost on the basis of behaviour.
Variable cost is a cost that ______.
The cost remains same at all levels of output is called ______ cost.
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?
Fixed cost is a cost which remains same at ______.
Direct cost increases when ______.
Distinguish between controllable and uncontrollable costs.
Amount spent to purchase a machinery is the example of ______ cost.
What is meant by variable cost?
Classify cost according to its nature.
Explain with an example, the meaning of fixed costs.
