The principle that the cost of something is equal to what is sacrificed to get it is known as the
A) marginal principle.
B) principle of opportunity cost.
C) principle of diminishing returns.
D) reality principle.

Question

Quizplus · Accepted Answer

The principle of opportunity cost states that the cost of an item is what you give up to get that item. This includes not just the monetary cost, but all resources that are foregone to pursue a certain action or purchase.

The Principle That the Cost of Something Is Equal to What