7
QuizMultiple Choice

Opportunity Cost

Question 7 • (Galli)WCA 2221 Civics/Economics 1st nine weeks 26-27

Which of the following has the largest impact on opportunity cost?

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

Explanation

Opportunity cost is the value of the next-best option you give up when making a choice. Limited resources make people choose among competing uses, creating that trade-off. Consumer wants, needs, or deadlines may influence a particular decision, but limited resources have the broadest impact on opportunity cost.

AI-written and checked against the verified answer.

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