opportunity cost

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opportunity cost

the opportunities foregone in undertaking one activity measured in terms of the other possibilities that might have been pursued using the same expenditure of resources. While opportunity cost is mainly a concept in economics, it also applies more generally to human existence. For example, given the finitude of time in the human life-span and the impossibility of doing many activities more than one at a time or other than in one-to-one interactions, opportunity costs are involved in many human activities, not only those in which economic resources are involved.
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The projects, which incorporate the latest developments in renewable and alternative cost effective fuel sources, including nuclear power, involve the assessment, implementation and management of efficiency-based programs and technologies.
4% wage and benefit cut for a period of six years and has allegedly been unwilling to discuss alternative cost savings.
Only when a business makes the shift to lean does the practitioner see an alternative cost system that is extremely appealing.
IMA's Foundation for Applied Research/Management Accounting Committee (FAR/MAC) has identified the following eight topics as core research areas for which it will provide funding: alternative cost accounting/management systems, capacity management, capital budgeting and investment decision making, customer valuation, enterprise risk management, monitoring and control, strategic plan forecasting, and value-based management.
At a press conference at the California State Parent-Teacher Association in downtown Los Angeles, Romer urged Davis to find additional revenues by raising vehicle license fees and pursuing other alternative cost savings that would help spare the education budget.
Each qualifying senior can preserve up to an additional $10,000 of his or her estate legacy over a 2-year length of residency while saving the alternative cost premium of private-pay nursing.
Various policy choices could increase the extent to which Title I funds are allocated to states and districts with high percentages of poor children (changing the appropriations hold-harmless provisions, funding targeted grants, using an alternative cost factor, and raising the basic grant eligibility threshold).
This cost model, or the alternative cost approach, differs from the traditional cost approach in three important ways.
In 1995, the alternative cost limitation is $500,000 which represents the maximum deduction that can be taken over the three-year period.
It valued these intangibles by comparing the acquisition costs of the core deposits with the alternative cost of borrowing funds to run its business.
This analysis will consist of cost comparisons and validation, as well as alternative cost savings.
Its programmes allow patients to be treated in the comfort of their homes and/or offices and at the same time save approximately 50 per cent of alternative cost.
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