EEL213-2

The .............................. cost is the cost associated when you go with one investment, and potentially lose out on other investments.

• opportunity

• variable

• fixed

• sunk

Walter was a teacher, he was earning $3000 in school. He left his teaching job in school and started his own tuition. What is his opportunity cost here ?

• $3000

• $4000

• $0

• $1000

Sunk costs are costs that will be recovered by the business. 

• Yes

• No

Total Cost = Total Fixed + Total Variable Cost

• True

• False

Cost Minimisation aims to achieve the most best way to deliver the goods and services while also maintaining the quality of the product. 

• True

• False

Yoda spends $2000 on Decoration of his cafe. He is wasting his money here. this cost is ..................................... cost.

• Wasteful

• Wasting

• Wasted

• Waste

Wanda realized that she was spendong more than she was earning. She has to do cost ........................................

• Minimisation

• Maximisation

• Low

• High