In the context of economic feasibility,which statement is true of opportunity costs?
A)They measure fixed and variable costs involved in running a system.
B)They measure costs involved in training employees who will be using the information system.
C)They measure the changes in the scope of an information system after the analysis and design phases.
D)They measure what an individual would miss by not having an information system or feature.

Question

Quizplus · Accepted Answer

Opportunity costs refer to what an individual or organization would miss by not choosing a certain option, such as not having an information system or feature. Options A, B, and C do not accurately describe opportunity costs. Option A refers to cost measurement, but not specifically opportunity costs. Option B refers to a specific type of cost involved in implementing an information system, but not an opportunity cost. Option C refers to changes in the scope of a system, but not opportunity costs.

In the Context of Economic Feasibility,which Statement Is True of Opportunity