If you do one thing, you usually give up the chance to do something else. This is called "opportunity cost."

Name: If you do one thing, you usually give up the chance to do something else. This is called "opportunity cost."
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Question

Quizplus · Accepted Answer

Opportunity cost refers to the cost of the next best alternative forgone, when we make a choice between two or more options. Therefore, choosing one thing means giving up the opportunity to do something else, which incurs an opportunity cost.

If You Do One Thing, You Usually Give Up the Chance