Answer:
Opportunity cost is the cost of a foregone alternative. If you chose one alternative over another, then the cost of choosing that alternative is an opportunity cost. Opportunity cost is the benefits you lose by choosing one alternative over another one.
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What is the usual relationship between a country’s standard of living and literacy rate of that country? Usually the relationship between a country's standard of living and literacy rate directly relate to one another. When a country has a high standard of living, the literacy rate is also high because the norms are set to a higher standard. In society, everything relates to one another and because of one thing comes another outcome and so on.
