B Com Exam > B Com Videos > International Business > Opportunity Cost, International Business
Opportunity Cost, International Business Video Lecture | International Business - B Com
|
33 videos|27 docs|9 tests
|
FAQs on Opportunity Cost, International Business Video Lecture - International Business - B Com
| 1. What is opportunity cost in international business? |  |
Ans. Opportunity cost refers to the potential benefit or value that is foregone when choosing one course of action over another in international business. It represents the benefits of the next best alternative that is forgone when a particular decision is made. In the context of international business, it can be the potential profits or opportunities that are missed out on when choosing to invest in one foreign market over another.
| 2. How does opportunity cost impact decision-making in international business? | |
Ans. Opportunity cost plays a crucial role in decision-making in international business. It helps businesses evaluate the potential benefits and drawbacks of different options and make rational choices. By considering the opportunity cost, businesses can assess the potential risks and rewards associated with each decision and make informed choices that align with their objectives. It also helps prioritize investments and allocate resources efficiently in the global market.
| 3. Can you provide an example of opportunity cost in international business? | |
Ans. Certainly! Let's consider an example where a multinational company has to choose between investing in a market with high growth potential but high political risk (Market A) or a market with moderate growth potential but low political risk (Market B). The opportunity cost in this scenario would be the potential profits and growth that the company could have achieved in Market A if they had chosen it over Market B. By choosing Market B, the company is sacrificing the potential benefits that Market A could have provided.
| 4. How can businesses minimize opportunity cost in international business? | |
Ans. Businesses can minimize opportunity cost in international business by conducting thorough market research and analysis. This includes assessing the potential risks and rewards of different markets, identifying suitable investment opportunities, and considering factors such as political stability, market demand, competition, and regulatory environment. By gathering comprehensive information, businesses can make more informed decisions and minimize the chances of selecting options with higher opportunity costs.
| 5. What are the potential risks of ignoring opportunity cost in international business? | |
Ans. Ignoring opportunity cost in international business can lead to various risks. Businesses may invest resources in markets or projects that do not yield optimal returns, resulting in missed profit opportunities. It can also lead to inefficient allocation of resources, where investments are made in markets with lower growth potential or higher risks. Ignoring opportunity cost can hinder business growth and competitiveness in the global market, as it prevents businesses from making informed decisions and capitalizing on the most favorable opportunities.
Related Exams
About this Video
|
4.78/5 Rating |
|
Nov 16, 2024 Last updated |
Video Description: Opportunity Cost, International Business for B Com 2024 is part of International Business preparation.
The notes and questions for Opportunity Cost, International Business have been prepared according to the B Com exam syllabus.
Information about Opportunity Cost, International Business covers all important topics for B Com 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Opportunity Cost, International Business.
Introduction of Opportunity Cost, International Business in English is available as part of our International Business for B Com & Opportunity Cost, International Business in
Hindi for International Business course. Download more important topics related with notes, lectures and mock test series for
B Com Exam by signing up for free.
Description
Video Lecture & Questions for Opportunity Cost, International Business Video Lecture | International Business - B Com - B Com full syllabus preparation | Free video for B Com exam to prepare for International Business.
Information about Opportunity Cost, International Business
Here you can find the meaning of Opportunity Cost, International Business defined & explained in the simplest way possible.
Besides explaining types of Opportunity Cost, International Business theory, EduRev gives you an ample number of questions to practice Opportunity Cost, International Business tests,
examples and also practice B Com tests.
|
33 videos|27 docs|9 tests
|
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Exam
,practice quizzes
,mock tests for examination
,video lectures
,Viva Questions
,Opportunity Cost
,Opportunity Cost
,International Business Video Lecture | International Business - B Com
,Sample Paper
,International Business Video Lecture | International Business - B Com
,study material
,Previous Year Questions with Solutions
,MCQs
,shortcuts and tricks
,Important questions
,Free
,Opportunity Cost
,Semester Notes
,Extra Questions
,International Business Video Lecture | International Business - B Com
,ppt
,Objective type Questions
,past year papers
,Summary
;
Study Opportunity Cost, International Business on the App
Students of B Com can study Opportunity Cost, International Business alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Opportunity Cost, International Business,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Opportunity Cost, International Business is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup