The value of the best alternative sacrificed to obtain something you want is referred to as
A) explicit cost.
B) opportunity cost.
C) accounting cost.
D) tangible cost.

Question

Quizplus · Accepted Answer

Opportunity cost is the best choice as it refers to the value of the best alternative option that you have to give up to choose one particular option. It is an important concept in decision-making and helps in evaluating the true cost of a decision.

The Value of the Best Alternative Sacrificed to Obtain Something