Recall the Application about running a lawn-cutting business using solar-powered equipment to answer the following question(s).
-The time and invested funds involved in starting a lawn-cutting business address the economic concept of
A) the marginal principle.
B) opportunity cost.
C) the real-nominal principle.
D) the principle of diminishing returns.

Question

Quizplus · Accepted Answer

Opportunity cost refers to the cost of choosing one option over another. In starting a lawn-cutting business, the owner must consider the opportunity cost of investing time and money into the business instead of using those resources in other ways.

Recall the Application About Running a Lawn-Cutting Business Using Solar-Powered