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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
These factors will obviously affect commerce decision making, e.g. whether to do business on Sundays or 24-hour a day.
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Question 1 Intermediation is the process of linking savers of money with those who are in need of money. Explain the intermediation process of banks Question 2 Business loans
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