The principle of opportunity cost is:
A)the opportunity cost of something is what someone sacrifices to get it.
B)is the satisfaction of obtaining the best next alternative
C)is the choice someone has to make between two different goods.
D)the cost of paying for something someone needs.

Question

Quizplus · Accepted Answer

The principle of opportunity cost states that the opportunity cost of something is what someone sacrifices to get it. It is the cost of the next best alternative that has to be given up in order to pursue a certain action or decision. Therefore, choice A is the correct answer.

The Principle of Opportunity Cost Is