Isn't opportunity cost mean that "the next best choose for the alternative forgone".?
2007-01-11 20:28:17 · 4 answers · asked by ng h 2 in Social Science ➔ Economics
an opportunity cost is the price you pay for doing a task.
for example, the opportunity cost of buying a car is the inability to buy something else with that money. Another example is when you take a class in college, the opportunity cost is the other classes you could have taken during that time and the inability to be working at that time.
2007-01-11 20:38:47 · answer #1 · answered by Brian F 4 · 0⤊ 0⤋
The cost of something in terms of opportunity foregone. The opportunity cost to a country of producing a unit more of a good, such as for export or to replace an import, is the quantity of some other good that could have been produced instead.
2007-01-12 05:23:18 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Perfect!!
2007-01-15 21:30:23 · answer #3 · answered by ttfreitas 2 · 0⤊ 0⤋
got it in one
2007-01-12 04:33:58 · answer #4 · answered by welllaners 5 · 0⤊ 0⤋