The benefits sacrificed when one alternative is chosen over another are referred to as:
A) Avoidable costs.
B) Opportunity costs.
C) Sacrificial costs.
D) Beneficial costs.

Question

Quizplus · Accepted Answer

Opportunity costs are the benefits that must be given up in order to pursue a certain course of action. Therefore, the best choice can only be made by considering the opportunity costs of each alternative and selecting the one that provides the greatest benefit relative to the costs incurred.

The Benefits Sacrificed When One Alternative Is Chosen Over Another