Question

Assessing opportunity cost involves making choices and dealing with consequences. choosing consequences over rewards. reviewing past decisions and changing them. minimizing profit and loss.

Answer 1

ANSWER: Making choices and dealing with consequences

EXPLANATION: Opportunity Cost means the benefit or profit of something that must be given up in order to acquire something else. This means that it is the value or profit of the second best alternative thing available. This involves choosing from alternatives and then dealing with the results after choosing that option.

Answer 2

Making choices and dealing with consequences