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Ilia_Sergeevich [38]
3 years ago
8

Which best describes an opportunity cost?

Social Studies
2 answers:
fenix001 [56]3 years ago
6 0

Answer:

B. giving up an opportunity to do something else when making an economic decision

Explanation:

Option B is the answer

d1i1m1o1n [39]3 years ago
5 0

Answer:

giving up an opportunity to do something else when making an economic decision.

Explanation:

Opportunity cost arises when one gives up on an item for a substitute.

In this case, the individual has to choose between two alternatives which he or she cannot venture into at the same time.

For instance if one has to choose between opening up a dress store and a liquor store, where they have to choose one. Dropping one of them and opting for the other shall be refereed to as opportunity cost.

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In the question above, the given statement is called social loafing.

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