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Roman55 [17]
3 years ago
14

A construction company cannot complete a building because it has too few workers to finish the job. This is an example of which

economic principle? scarcity of labor surplus of capital O opportunity cost O factors of production​
Social Studies
1 answer:
Delicious77 [7]3 years ago
8 0

Answer:

scarcity of labor your welcome

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Opportunity cost is a profit or benefit that must be given up on order to acquire something else. Every resource such as money, land, and time can be put to a different use, therefore every choice, action, or decision has an opportunity cost.

Opportunity cost is the value or worth of the next best thing that one gives give up whenever a decision is made. It is the loss of a potential gain from another alternatives when a different alternative is chosen.

When a city invests in repairing its road, the opportunity cost can be not able to afford a museum because the money that could have been used to build a museum has been used for the road.

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