The term opportunity cost suggests that
A) in any exchange situation where one person gains, someone else must lose
B) not all individuals make the most of life's opportunities
C) executives do not always recognize opportunities for profit as quickly as they should
D) the only factor that is important in decision making is cost
E) because goods are scarce, in order to get some good you must give up some other good in return
Correct Answer:
Verified
Q34: A university should not disband its football
Q35: Sunk costs
A)can only be measured in monetary
Q36: If people specialize in producing those goods
Q37: Which economic concept does the expression "time
Q38: Which economic concept does the expression "there's
Q40: If you and I agree to exchange
Q41: A person who can produce more of
Q42: If Robin has an absolute advantage in
Q43: John takes 10 minutes to iron a
Q44: Eileen has a comparative advantage over Jan
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