Opportunity cost refers to:
A)money needed for major consumer purchases.
B)what a person gives up by making a choice.
C)the amount paid for taxes when a purchase is made.
D)current interest rates.
E)evaluating different alternatives for financial decisions.

Question

Quizplus · Accepted Answer

Opportunity cost is the concept of what is foregone or given up when choosing one option over another. It represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.

Opportunity Cost Refers To