The Opportunity Cost Flashcards
1
Q
What is the opportunity cost?
A
The opportunity cost is value of the first choice that has been given up in order to buy/produce/do something else.
Economics Test Revision (Part 1) > The Opportunity Cost > Flashcards
What is the opportunity cost?
The opportunity cost is value of the first choice that has been given up in order to buy/produce/do something else.