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18 August, 02:24

The actions that cannot be taken as a result of an action that is taken are

known as the __. of the action taken.

A. price

B. expense

C. downside

D. opportunity cost

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Answers (1)
  1. 18 August, 05:03
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    D. opportunity cost

    Explanation:

    Opportunity cost is the foregone benefit as a result of making a particular choice. It is the value of the next best alternative. For example, if a student opts has $10 and buys a pen, then he cannot use that money to buy anything else. Suppose the student needed a book that cost the same amount, the book is the opportunity cost.

    Opportunity cost arises due to the scarcity of time and resources. If one is attending a movie, then he or she can not be in class at the same time. Should they decide to go to the movies, classwork is the opportunity cost.
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