Select the answer that best describes what an opportunity cost is?

A. The amount of money you put into your savings each year.

B. The trade-off of making one choice and giving up a different choice.

C. The benefit you gain by choosing one option versus another.

D. The amount of money a business makes every year from sales.

Question

Computers & Technology

Steve Le

29 June, 19:18

Select the answer that best describes what an opportunity cost is?

A. The amount of money you put into your savings each year.

B. The trade-off of making one choice and giving up a different choice.

C. The benefit you gain by choosing one option versus another.

D. The amount of money a business makes every year from sales.

+4

Answers (1)

Know the Answer?

Lucian · Answer 1

A benefit, profit, or value of something that must be given up to acquire or achieve something else. Since every resource (land, money, time, etc.) can be put to alternative uses, every action, choice, or decision has an associated opportunity cost.