12
practice testMultiple Choice

Practice Test

Question 12 • Economics

Opportunity cost means that something needs to be

Answer
A
replenished.
B
given up.
C
ignored.
D
paid for.

Explanation

Opportunity cost is the value of the next-best alternative you give up when you make a choice. For example, spending an hour studying means giving up the chance to use that hour for another activity. So something must be given up; it does not necessarily have to be paid for, ignored, or replenished.

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