Answered

Uncover valuable information and solutions with IDNLearn.com's extensive Q&A platform. Our experts provide timely and precise responses to help you understand and solve any issue you face.

An opportunity cost is known as:

A. the basic economic problem
B. the value of the next best alternative
C. a choice between two or more alternatives
D. the study of choices made under the conditions of scarcity

Sagot :

GinnyAnsweridn

Final answer:

Opportunity cost is the value of the next best alternative in decision-making due to scarcity.


Explanation:

Opportunity Cost is a fundamental concept in economics that refers to the value of the next best alternative foregone when making a choice. It arises due to scarcity, where selecting one option necessitates giving up another. For example, if a country decides to invest in healthcare, the opportunity cost could be the resources not allocated to education.


Learn more about Opportunity Cost here:

https://brainly.com/question/37051624


We value your participation in this forum. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. Your search for answers ends at IDNLearn.com. Thank you for visiting, and we hope to assist you again soon.