Opportunity Cost

Opportunity Cost
Author: Fouad Sabry
Publisher: One Billion Knowledgeable
Total Pages: 234
Release: 2024-04-15
Genre: Business & Economics
ISBN:

What is Opportunity Cost In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives. Assuming the best choice is made, it is the "cost" incurred by not enjoying the benefit that would have been had by taking the second best available choice. The New Oxford American Dictionary defines it as "the loss of potential gain from other alternatives when one alternative is chosen". As a representation of the relationship between scarcity and choice, the objective of opportunity cost is to ensure efficient use of scarce resources. It incorporates all associated costs of a decision, both explicit and implicit. Thus, opportunity costs are not restricted to monetary or financial costs: the real cost of output forgone, lost time, pleasure, or any other benefit that provides utility should also be considered an opportunity cost. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Opportunity cost Chapter 2: Perfect competition Chapter 3: Output (economics) Chapter 4: Sunk cost Chapter 5: Cost Chapter 6: Competitive advantage Chapter 7: Managerial economics Chapter 8: Economic cost Chapter 9: Implicit cost Chapter 10: Operating surplus Chapter 11: Accounting constraints Chapter 12: AP Macroeconomics Chapter 13: Engineering economics Chapter 14: Barriers to exit Chapter 15: Profit (economics) Chapter 16: Shutdown (economics) Chapter 17: Asset Chapter 18: Output (economics) Chapter 19: Return on investment Chapter 20: Economics terminology that differs from common usage Chapter 21: Parable of the broken window (II) Answering the public top questions about opportunity cost. (III) Real world examples for the usage of opportunity cost in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Opportunity Cost.

The Personal MBA

The Personal MBA
Author: Josh Kaufman
Publisher: Penguin
Total Pages: 422
Release: 2010-12-30
Genre: Business & Economics
ISBN: 1101446080

Master the fundamentals, hone your business instincts, and save a fortune in tuition. The consensus is clear: MBA programs are a waste of time and money. Even the elite schools offer outdated assembly-line educations about profit-and-loss statements and PowerPoint presentations. After two years poring over sanitized case studies, students are shuffled off into middle management to find out how business really works. Josh Kaufman has made a business out of distilling the core principles of business and delivering them quickly and concisely to people at all stages of their careers. His blog has introduced hundreds of thousands of readers to the best business books and most powerful business concepts of all time. In The Personal MBA, he shares the essentials of sales, marketing, negotiation, strategy, and much more. True leaders aren't made by business schools-they make themselves, seeking out the knowledge, skills, and experiences they need to succeed. Read this book and in one week you will learn the principles it takes most people a lifetime to master.

The World of Economics

The World of Economics
Author: John Eatwell
Publisher: Springer
Total Pages: 766
Release: 1991-05-13
Genre: Business & Economics
ISBN: 1349213152

What are the central questions of economics and how do economists tackle them? This book aims to answer these questions in 100 essays, written by economists and selected from "The New Palgrave: A Dictionary of Economics". It shows how economists deal with issues ranging from trade to taxation.

Economics in Two Lessons

Economics in Two Lessons
Author: John Quiggin
Publisher: Princeton University Press
Total Pages: 404
Release: 2021-04-13
Genre: Business & Economics
ISBN: 0691217424

Since 1946, Henry Hazlitt's bestselling Economics in One Lesson has popularized the belief that economics can be boiled down to one simple lesson: market prices represent the true cost of everything. But one-lesson economics tells only half the story. It can explain why markets often work so well, but it can't explain why they often fail so badly--or what we should do when they stumble. Quiggin teaches both lessons, offering an introduction to the key ideas behind the successes--and failures--of free markets. He explains why market prices often fail to reflect the full cost of our choices to society as a whole. Two-lesson economics means giving up the dogmatism of laissez-faire as well as the reflexive assumption that any economic problem can be solved by government action, since the right answer often involves a mixture of market forces and government policy. But the payoff is huge: understanding how markets actually work--and what to do when they don't. This book unlocks the essential issues at the heart of any economic question. --From publisher description.

Pretty Little Mistakes

Pretty Little Mistakes
Author: Heather Mcelhatton
Publisher: Hachette UK
Total Pages: 466
Release: 2013-10-24
Genre: Fiction
ISBN: 1472207165

It all begins after high school. Nothing's simple anymore. Should you do the right thing and go to college? Or why not walk on the wild side and travel? Whatever you decide, just remember, PRETTY LITTLE MISTAKES isn't like life: when you screw up, you can go back and start all over again... With more than 150 possible endings sewn into this startlingly fresh and original debut, you can experience lives taken to the depths of misery, or the heights of happiness and fulfilment. Because doesn't everyone wonder What if...?

Cost and Choice

Cost and Choice
Author: James M. Buchanan
Publisher: University of Chicago Press
Total Pages: 120
Release: 1978
Genre: Business & Economics
ISBN: 0226078183

"As he usually does, Professor Buchanan has produced an interesting and provocative piece of work. [Cost and Choice] starts off as an essay in the history of cost theory; the central ideas of the book are traced to Davenport and Knight in the United States, and to a series of distinguished writers associated at various times with the London School of Economics. The author emerges from this discussion with what can be described as the ultimate in subjectivist cost doctrines. . . . Economists should learn the lessons offered to us in this little book—and learn them well. It can save them from serious errors."—William J. Baumol, Journal of Economic Literature

Survival Math

Survival Math
Author: Mitchell Jackson
Publisher: Scribner
Total Pages: 336
Release: 2020-02-04
Genre: Biography & Autobiography
ISBN: 1501131737

“A vibrant memoir of race, violence, family, and manhood…a virtuosic wail of a book” (The Boston Globe), Survival Math calculates how award-winning author Mitchell S. Jackson survived the Portland, Oregon, of his youth. This “spellbinding” (NPR) book explores gangs and guns, near-death experiences, sex work, masculinity, composite fathers, the concept of “hustle,” and the destructive power of addiction—all framed within the story of Mitchell Jackson, his family, and his community. Lauded for its breathtaking pace, its tender portrayals, its stark candor, and its luminous style, Survival Math reveals on every page the searching intellect and originality of its author. The primary narrative, focused on understanding the antecedents of Jackson’s family’s experience, is complemented by survivor files, which feature photographs and riveting short narratives of several of Jackson’s male relatives. “A vulnerable, sobering look at Jackson’s life and beyond, in all its tragedies, burdens, and faults” (San Francisco Chronicle), the sum of Survival Math’s parts is a highly original whole, one that reflects on the exigencies—over generations—that have shaped the lives of so many disenfranchised Americans. “Both poetic and brutally honest” (Salon), Mitchell S. Jackson’s nonfiction debut is as essential as it is beautiful, as real as it is artful, a singular achievement, not to be missed.

Encyclopedia of Organizational Knowledge, Administration, and Technology

Encyclopedia of Organizational Knowledge, Administration, and Technology
Author: Khosrow-Pour D.B.A., Mehdi
Publisher: IGI Global
Total Pages: 2734
Release: 2020-09-29
Genre: Business & Economics
ISBN: 1799834743

For any organization to be successful, it must operate in such a manner that knowledge and information, human resources, and technology are continually taken into consideration and managed effectively. Business concepts are always present regardless of the field or industry – in education, government, healthcare, not-for-profit, engineering, hospitality/tourism, among others. Maintaining organizational awareness and a strategic frame of mind is critical to meeting goals, gaining competitive advantage, and ultimately ensuring sustainability. The Encyclopedia of Organizational Knowledge, Administration, and Technology is an inaugural five-volume publication that offers 193 completely new and previously unpublished articles authored by leading experts on the latest concepts, issues, challenges, innovations, and opportunities covering all aspects of modern organizations. Moreover, it is comprised of content that highlights major breakthroughs, discoveries, and authoritative research results as they pertain to all aspects of organizational growth and development including methodologies that can help companies thrive and analytical tools that assess an organization’s internal health and performance. Insights are offered in key topics such as organizational structure, strategic leadership, information technology management, and business analytics, among others. The knowledge compiled in this publication is designed for entrepreneurs, managers, executives, investors, economic analysts, computer engineers, software programmers, human resource departments, and other industry professionals seeking to understand the latest tools to emerge from this field and who are looking to incorporate them in their practice. Additionally, academicians, researchers, and students in fields that include but are not limited to business, management science, organizational development, entrepreneurship, sociology, corporate psychology, computer science, and information technology will benefit from the research compiled within this publication.

Discover Your Inner Economist

Discover Your Inner Economist
Author: Tyler Cowen
Publisher: Penguin
Total Pages: 257
Release: 2008-05-27
Genre: Self-Help
ISBN: 1440631085

One of America’s most respected economists presents a quirky, incisive romp through everyday life that reveals how you can turn economic reasoning to your advantage—often when you least expect it to be relevant. Like no other economist, Tyler Cowen shows how economic notions—such as incentives, signals, and markets—apply far more widely than merely to the decisions of social planners, governments, and big business. What does economic theory say about ordering from a menu? Or attracting the right mate? Or controlling people who talk too much in meetings? Or dealing with your dentist? With a wryly amusing voice, in chapters such as “How to Control the World, The Basics” and “How to Control the World, Knowing When to Stop” Cowen reveals the hidden economic patterns behind everyday situations so you can get more of what you really want. Readers will also gain less selfish insights into how to be a good partner, neighbor and even citizen of the world. For instance, what is the best way to give to charity? The chapter title “How to Save the World—More Christmas Presents Won’t Help” makes a point that is every bit as personal as it is global. Incentives are at the core of an economic approach to the world, but they don’t just come in cash. In fact, money can be a disincentive. Cowen shows why, for example, it doesn’t work to pay your kids to do the dishes. Other kinds of incentives—like making sure family members know they will be admired if they respect you—can work. Another non-monetary incentive? Try having everyone stand up in your next meeting if you don’t want anyone to drone on. Deeply felt incentives like pride in one’s work or a passing smile from a loved one, can be the most powerful of all, even while they operate alongside more mundane rewards such as money and free food. Discover Your Inner Economist is an introduction to the science of economics that shows it to be built on notions that are already within all of us. While the implications of those ideas lead to Cowen’s often counterintuitive advice, their wisdom is presented in ordinary examples taken from home life, work life, and even vacation life… How do you get a good guide in a Moroccan bazaar?

L.S.E. Essays on Cost

L.S.E. Essays on Cost
Author: London School of Economics and Political Science
Publisher: Weidenfeld & Nicolson
Total Pages: 310
Release: 1973
Genre: Business & Economics
ISBN:

UK. Monograph comprising essays on the economic theory of cost, originally published between 1934 and 1960 by scholars associated with the london school of economics - covers cost accounting, etc. References.