Economics (AS & A Level) · Feb / March 2024 · Paper 12 · Question 5
9708Scarcity, choice and opportunity cost
What is the opportunity cost to a person of spending $20 on a new pair of sports shoes?
- Aall the other things the person could have bought
- Bthe cost of getting to the sports shop
- Cthe current value of the person’s old pair of shoes
- Dthe next best thing that could have been bought with the $20
As printed in the paper
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Correct answer: D. the next best thing that could have been bought with the $20
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