What is the opportunity cost of a good?

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

Answered by George W. Economics tutor

4929 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

How can globalisation increase domestic competitiveness?


Please can you help me to understand the concept of price elasticity of demand (PED)?


How would a reduction in interest rates lead to an increase in Economic Growth?


Explain some benefits of a Monopoly


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 2013–2024

Terms & Conditions|Privacy Policy