3 years ago

What's opportunity cost? Provide a hypothetical situation/scenario showing an

Social Studies

1 answer:

vitfil [10]3 years ago

3 0

Answer: See explanation

Explanation:

Opportunity cost is what one forgoes when we choose a different alternative. Due to the scarcity of resources, we all have choices to make.

For example, if one is faced with a choice of either spending a certain amount of money on buying a book or going to the cinema. If the person eventually buys a book, then the opportunity cost is the cost of the movie not seen and the enjoyment that's comes with going to the cinema.

You might be interested in

All of the following are problems in measuring the unemployment rate except that A. discouraged workers are not included in the

lara [203]

Answer:B(people on active military service are included as unemployed.

Explanation:

Unemployment can be defined as the process of not active in either businesses, private sectors and government sectors. Owing to this aforementioned point, it will be impossible to ascertain the rate of unemployment by people on active military service are included as unemployed. Because they are employed and active in the service.

3 0

3 years ago

What are some organizations and programs that help develop education in Africa ?

Monica [59]

Some organizations that help develop education in Africa:

-UNICEF
-Aid for Africa
-African Education Program

Hope this helps! :)

8 0

3 years ago

Read 2 more answers

Which statement about the rise of the Egyptian civilization is false?

elena-14-01-66 [18.8K]

<span>Which statement about the rise of the Egyptian civilization is false?

second one

</span>

3 0