Answers>Economics>GCSE>Article

What is meant by the term opportunity cost?

It is defined as the value of the next best alternative forgone.

AP

Answered by Andriani P. • Economics tutor

2070 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

What is opportunity cost

t=−3 , find t^2−2t−1

Define the term PPF and illustrate it.

Using real life examples, explain the differences between the different market structures.