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Which of thes options best describes opportunity cost?

• The price of taking a chance

• The alternative you have to go without in a choice of two things

• The cost of opportunity

• The price you pay when you make a choice

The opportunity cost of Australian households moving away from coal-powered energy to solar-powered energy includes:

(i) the loss of jobs in the coal industry,

(ii) a cleaner environment,

(iii) reduced coal production.

• (i), (ii) and (iii)

• (ii) and (iii)

• (iii) only

• (i) and (iii)

What is it called when a product loses value over time?

• Depreciation
• Inflation
• Assets
• Growth

 Following is not a specific force environment?

• customers
• suppliers
• creditors
• social

Following is not a general force environment:

• political environment
• social environment
• competitors environment
• Economic environment

Following is not the features of business environment:

• Totality of external forces
• dynamic nature
• industrial policy
• uncertainty

Following is not the importance of business environment:

• Get first mover advantage
• complexity
• Tapping useful resources
• better performance

.Business environment does not have the following characteristics:

• uncertainty   
• employees 
• relativity 
• complexity

Following is not the dimension of the business  environment

• political environment         
• social environment
• legal environment
• nature

Business has _____ control over the MACRO Environment

• Complete

• Some Control/influence

• No