What is the opportunity cost of a good?

The quantity of other goods sacrificed to get another unit of that good.

GW
Answered by George W. Economics tutor

5416 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

What are tariffs?


Why is supply side policy used a lot in modern economies?


What conflicts between macroeconomics objectives may occur in an economy?


Explain how The Monetary Policy Committee controls inflation within the UK economy.


We're here to help

contact us iconContact usWhatsapp logoMessage us on Whatsapptelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences