Essays on Opportunity Cost

The opportunity cost is the best alternative you give up to get that item (Principles Of economics, 7th Edition, 2018). In other words, it is a benefit that an individual could have enjoyed but gave up for something else. In order to understand the concept of opportunity cost, economists have made some basic assumptions: Human...

Cost allocation is the appointing of an expense to a few cost articles, for example, items or offices. The cost portion is required on the grounds that the expense isn’t legitimately detectable to a particular article. Since the expense isn’t straightforwardly detectable, the subsequent designation is fairly self-assertive. As a result of the assertion, a...

A cost benefit analysis depends and requires the calculation of the costs of operations, the investment, the total return and building a considered project over its functional life-time as well as the suggested time-stream of profits expected to accrue from the project. These timelines of costs and benefits of the project are needed to be...