Which situation is the best example of opportunity cost? A country chooses to produce bananas instead of wheat. A country choose
s to invest in manufacturing and agriculture. A country chooses to specialize in producing paper products. A country chooses to export all of its products.
The correct answer is A. Country chooses to produce bananas instead of wheat.
Opportunity cost is termed as value of choice. It is the important concept in economics and also the relationship which is between choice and scarcity.
A good example of opportunity cost is you can spend money and time on other things but you can not spend time reading books or the money in doing something which can help.
Opportunity takes important part in economic theory.
