When the government chooses to use resources to build tourist centers, the selected resources are no longer available to build highways. This BEST illustrates the concept of
A) macroeconomics.
B) scarcity.
C) opportunity cost.
D) efficiency.

Question

Quizplus · Accepted Answer

The concept illustrated in the statement is that of opportunity cost. By choosing to allocate resources to building tourist centers, the opportunity to use those same resources to build highways is foregone. This is the basic idea of opportunity cost, which is the cost of the best alternative forgone.

When the Government Chooses to Use Resources to Build Tourist