Economics · Oct / Nov 2024 · Paper 12 · Question 2
2281Opportunity cost
What is opportunity cost?
- Athe allocation of resources in an economy
- Bthe cost to the individual when they consume a good
- Cthe lack of goods and services available to satisfy unlimited wants
- Dthe next best alternative forgone when making an economic decision
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Correct answer: D. the next best alternative forgone when making an economic decision
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