COST ACCOUNTING
INFORMATION FOR DECISION MAKING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
An unwillingness to give up something now in return for something later.
|
|
Agony
|
|
|
Delayed Gratification
|
|
|
Instant Gratification
|
Explanation:
Detailed explanation-1: -Opportunity cost refers to what you have to give up to buy what you want in terms of other goods or services.
Detailed explanation-2: -The reflective system is logical, analytical, deliberate, and methodical, while the reactive system is quick, impulsive, and intuitive, relying on emotions or habits to provide cues for what to do next.
Detailed explanation-3: -The first step in decision making process is the clear identification of opportunities or the diagnosis of problems that require a decision.
There is 1 question to complete.