If you were to start a business five years from now, what would be your opportunity cost?
Question:
If you were to start a business five years from now, what would be your opportunity cost? In other words, what is the next-best use of your time? How much money could you make working at a job, instead? The answer to this question will give you a rough idea of how to value your time when you start a business and figure out how much to pay yourself.
Step by Step Answer:
My opportunity cost would b...View the full answer
Entrepreneurship Starting and Operating A Small Business
ISBN: 978-0133935608
4th edition
Authors: Steve Mariotti, Caroline Glackin
Related Video
The time value of money (TVM) is the concept that the money you have in your pocket today is worth more than the same amount would be if you received it in the future because of the profit it can earn during the interim.
Students also viewed these Business questions
-
If you were to start a business, which ownership form would you choose? What factors might affect your choice?
-
If you were to start a business, which aspects of human resource management would you want to entrust to specialists? Why?
-
1. Why do you think recessions are a good time to start a business? Wouldnt that seem counterintuitive? 2. Thinking about todays business climate, would you say that now is a good time to start a...
-
4. In cells B4:B15, type a yearly salary for each staff member. Format these values as Currency with no decimal places. 5. Calculate the new salary with a 10% increase in column C. 6. Calculate the...
-
One pair (two cards of one rank and three cards of distinct ranks, where each of the three cards has a different rank from the rank of the pair) A poker hand consists of five cards drawn from a deck...
-
Evaluate the limit, using LHopitals Rule where it applies. x + 1-2 lim x3 x-7x-6
-
* prepare those studying change in the context of assessed courses to produce academically grounded accounts of change.
-
An engineering student bought a car at a local used car lot. Including tax and insurance, the total price was $3000. He is to pay for the car in 12 equal monthly payments, beginning with the first...
-
Tom Belford and Tony Sorrentino own a small business devoted to kitchen and bath granite installations. Recently, building contractors have insisted on up-front bid prices for a house rather than the...
-
Determine the nodal displacements and the element stresses, including principal stresses, due to the loads shown for the thin plates in Figure P6-15 on the next page. Use E = 30 106 psi, v = 0.30,...
-
Choose three non-financial benefits of entrepreneurship that might be important to you. Write a paragraph about each.
-
Define small business. How, if at all, does this differ from what you would have expected the definition to be?
-
What is the point of the autllors' drunkdnvlng analogy?
-
Global Training Solutions (GTS) was founded 40 years ago by an educator/consultant/trainer to provide training to business employees, consulting services to businesses and school systems, and...
-
Consider the following open-loop transfer function: K(s+2a) G(s)H(s)= where K,a>0 s(s-a) The frequency when the phase is -180 degrees is: rad/s The magnitude of the open loop transfer function when...
-
Complete Exhibit 5 (this should be cost per cup and in CA$, do not convert). The exhibit is missing a line for Milk & Sugar within factory overhead section EXHIBIT 5: COSTING CHART Direct Cost Coffee...
-
Why is the tension negative in the net force x-component? The tension points right, so shouldn't it be positive? I saw elsewhere that the equation has negative T. Why? Chrome File Edit View History...
-
Problem Statement | Nessie, the wonder-dog, is sprinting at a constant 10.0 m/s in a straight Useful Equations line. After passing point A, she slows to a stop with a constant acceleration of 1.79...
-
Decide whether a line can pass through the data points. If it can, determine the slope of the line.
-
At 31 December 20X9, the end of the annual reporting period, the accounts of Huron Company showed the following: a. Sales revenue for 20X9, $ 2,950,000, of which one- quarter was on credit. b....
-
Describe an idea for a business that you have. Explain how it could satisfy a consumer need.
-
Give an example of a change that has occurred or is about to occur in your neighborhood. Discuss any business opportunities this change might create.
-
List five business opportunities in your neighborhood and the need(s) or want(s) each would satisfy. Determine whether each opportunity you describe is internal, external, or a mix.
-
TestAnswerSavedHelp opens in a new windowSave & ExitSubmit Item 1 7 1 0 points Time Remaining 1 hour 2 0 minutes 1 8 seconds 0 1 : 2 0 : 1 8 Item 1 7 Time Remaining 1 hour 2 0 minutes 1 8 seconds 0 1...
-
Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance...
-
In the context of portfolio theory, what is diversification primarily intended to do ? A ) Increase returns. B ) Reduce risk. C ) Maximize tax efficiency. D ) Simplify investment management.
Study smarter with the SolutionInn App