What is the term for what you give up to obtain an item
A)opportunity cost
B)explicit cost
C)true cost
D)direct cost

Question

Quizplus · Accepted Answer

Opportunity cost refers to the cost of the next best alternative that has to be given up in order to obtain a certain item. It is the most appropriate term for describing the concept of giving up something to acquire something else. The other options (explicit cost, true cost, direct cost) do not fully capture the idea of opportunity cost.

What Is the Term for What You Give Up to Obtain