The principle of opportunity cost is
A) the opportunity cost of something is what someone sacrifices to get it.
B) the satisfaction of obtaining the best next alternative.
C) 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. This means that when making a decision, someone must give up the opportunity to do something else in order to pursue the chosen option. Therefore, option A is the best choice.

The Principle of Opportunity Cost Is