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

5774 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

How can globalisation increase domestic competitiveness?


Using a diagram, explain how an economy's exchange rate is determined. 4 marks. AS Level The National and International Economy


Record numbers of visitors to the Olympic Games want accomodation in the host city. Explain the effects that this will have on the market for rental properties.


What is elasticity and why does it matter to economists?


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2026 by IXL Learning