Which of the comparative phases has the following function: The opportunity cost in the market of an entrepreneur is a product of culture and institutions?

Question

Quizplus · Accepted Answer

The comparative phase of Evaluation involves determining the costs and benefits of different opportunities. The statement given in the question describes the opportunity cost of an entrepreneur in the market, which refers to the next best option forgone when making a decision. The factors that contribute to the opportunity cost in this case are culture and institutions. Therefore, the answer is Evaluation.

Which of the Comparative Phases Has the Following Function: the Opportunity