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

1575 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

Explain why a 'strong' pound might reduce the sales of steel in the UK.

Answered by Sinan M.

Why is the demand for food relatively price inelastic?

Answered by Fred E.

Evaluate one reason why trade may be beneficial for an economy (5 marks)

Answered by Ankit M.

Give one example of perfect and imperfect substitutes.

Answered by Christopher L.

We're here to help

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

Company Information

CareersBlogSubject answersBecome a tutorSchoolsSafeguarding policyFAQsUsing the Online Lesson SpaceTestimonials & pressSitemap

Popular Requests

Maths tutorChemistry tutorPhysics tutorBiology tutorEnglish tutorGCSE tutorsA level tutorsIB tutorsPhysics & Maths tutorsChemistry & Maths tutorsGCSE Maths tutors

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
CEOP logo
CLICK CEOP

Internet Safety

Sagepay logo

Payment Security

Cyber Essentials logo

Cyber

Essentials

Cookie Preferences