Whenever a person gives up one resource to obtain an item it is called:

Name: Whenever a person gives up one resource to obtain an item it is called:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The term that describes the resource given up when making a decision is opportunity cost. It relates to the missed opportunity or the cost of the next best alternative. Therefore, option D is the correct answer. The other options (A, B, C) are not the appropriate terms to describe this concept.

Whenever a Person Gives Up One Resource to Obtain an Item