Illustration based on business opening hours, Business Management

Assignment Help:

Business opening hours

a) Opportunity cost refers to the cost of the next best alternative that is foregone in a decision. In this case, it refers to the loss income by not opening supermarkets on Weekends.

b) Illustration of opportunity cost mentioned include

  • Loss of supermarket sales by not operating on Sundays or weekends or by not operating "24-hour stores".
  • Banks potentially losing clients on Weekends.
  • Fines for refusal.

These factors will obviously affect commerce decision making, e.g. whether to do business on Sundays or 24-hour a day.

 


Related Discussions:- Illustration based on business opening hours

Operate, What is the best business these days

What is the best business these days

Define the meaning of entrepreneur, Define the meaning of Entrepreneur. ...

Define the meaning of Entrepreneur. An Entrepreneur is a person who notices a requirement and then brings mutually manpower, capital and material needed to meet that requiremen

The major characteristics of physical development, QUESTION Based on wh...

QUESTION Based on what was discussed during your lectures on how children learn, answer the following questions. (a) Explain 4 strategies that you would use to enhance the l

Air transport, advantages and disadvantages of air transport

advantages and disadvantages of air transport

Explain the concept of workplace violence, Question 1: (a) Explain the...

Question 1: (a) Explain the ergonomic risk factors that affect the well being of workers. (b) Briefly explain the outcomes of poor ergonomics and elaborate on the ergonomi

Material management, what are the functions of material managemnet

what are the functions of material managemnet

Evaluate the pros and cons of the various modes, Question: Imagine you ...

Question: Imagine you are a local entrepreneur that has developed a revolutionary new personal computer that can perform the same functions as IBM, Apple and Acer computers an

General partnership as business structure, Rene's decision In 2004, Rene...

Rene's decision In 2004, Rene opened his shop with only one full-time employee. Since then Rene has added two general partners and greatly expanded the operation. Over the past

Explain the ethnocentrism, QUESTION 1 We do not understand people from ...

QUESTION 1 We do not understand people from other cultures as readily and intuitively as people from our own culture. But, cross cultural communication management helps organiz

Research Proposal., Can you write a research proposal on Banking?

Can you write a research proposal on Banking?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd