What is the term that means whatever must be given up to obtain an item?
A)efficiency.
B)externality.
C)opportunity cost.
D)market failure.

Name: What is the term that means whatever must be given up to obtain an item? A)efficiency. B)externality. C)opportunity cost. D)market failure.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

Opportunity cost is the term that refers to the cost of the next best alternative when a decision is made. It is the value of the benefit forgone when choosing one option over another.

What Is the Term That Means Whatever Must Be Given