Which of the following most closely relates to the idea of opportunity costs?
A) trade-offs
B) economic growth
C) technological change
D) capitalism

Question

Quizplus · Accepted Answer

Opportunity costs refer to the choices that must be made when resources are limited (trade-offs). The other options are not directly related to opportunity costs. Economic growth refers to an increase in the production of goods and services, technological change refers to advancements in technology, and capitalism refers to an economic system characterized by private ownership of the means of production and the creation of goods and services for profit.

Which of the Following Most Closely Relates to the Idea