6
QuizMultiple Choice

Opportunity Cost — Quiz

Question 6 • Economics

Which of these has the largest impact on opportunity cost?

Answer
A
tight deadlines
B
consumer needs
C
consumer wants
D
limited resources

Explanation

Opportunity cost is the value of the next-best alternative you give up when choosing something. Limited resources—such as time, money, or materials—force people to make choices and give up alternatives, so they have the largest impact on opportunity cost. Consumer wants, needs, and deadlines may influence a particular decision, but scarcity makes opportunity costs arise.

AI-written and checked against the verified answer.

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