Student Resource 3.1 Independent Activity: Opportunity Costs and Trade-offs in Real Life Complete the form below by listing two things (Choice 2 and Choice 3) that you could do after you graduate from high school. Going to college is already included as one choice. Write the benefits (utility), constraints, and trade-offs of each choice. These can be both quantitative (the cost of school tuition) and qualitative (it’s hard to put a price tag on the experience of travel). To help you complete the assignment, get input from friends and family members who have already made the same choice. You also might conduct an Internet search using the search term “value of college education.” Finally, rank your choices from 1 to 3 in the order that you are most likely to choose them. Note that these rankings are not set in stone and may change over time.

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Explanation:

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1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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