choosing one cereal over another and losing the chance to buy the other
Explanation:
Opportunity cost is the choice sacrificed for another alternative.
Our wants according to economics are unlimited. The resources to meet these unlimited wants are also scare. Production is limited by availability of resources.
Due to limited resources, we have to choose more important needs over the other. Often times, a scale of preference is drawn for our wants.
The cost of choosing one particular commodity over another is called the opportunity cost.
As viewed from the north pole star Polaris, Earth turns counterclockwise.
The North Pole, also known as the Geographic North Pole or Terrestrial North Pole, is the point in the Northern Hemisphere where Earth's axis of rotation meets its surface.
