In economics we learn that
A) tradeoffs allow us to have more of everything we value.
B) tradeoffs allow us to avoid the problem of opportunity cost.
C) opportunity costs are all of the possible alternatives given up when we make a choice.
D) None of the above answers is correct.

Question

Quizplus · Accepted Answer

Tradeoffs require us to make choices between different options, implying that we cannot have more of everything we value. Opportunity cost is the value of the next best alternative given up when making a choice, not all possible alternatives.

In Economics We Learn That