Opportunity cost always arises when a trade-off decision is made.

Name: Opportunity cost always arises when a trade-off decision is made.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Opportunity cost is the cost of the next best alternative that had to be forgone in order to pursue a certain action. Whenever a decision or trade-off is made, there is always an opportunity cost involved. Therefore, the statement "opportunity cost always arises when a trade-off decision is made" is true.

Opportunity Cost Always Arises When a Trade-Off Decision Is Made