Opportunity cost refers to
A) money needed for major consumer purchases.
B) what you give up or forego as a result of making a decision.
C) the amount paid for taxes when a purchase is made.
D) evaluating different alternatives for financial decisions.

Question

Quizplus · Accepted Answer

Opportunity cost is the concept of what is foregone or given up as a result of 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