Answers>Economics>GCSE>Article

What is meant by the term opportunity cost?

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

Answered by Andriani P. • Economics tutor

1157 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

Explain two disadvantages of specialisation.

Answered by Kira E.

Explain how a monopoly affects competition in a market

Answered by Chloe M.

What are the main macroeconomics variables?

Answered by Aidan G.

Give the definition of an externality and explain why it is a market failure?

Answered by Tutor121822 D.

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 2013–2024

Terms & Conditions|Privacy Policy
CEOP logo
CLICK CEOP

Internet Safety

Sagepay logo

Payment Security

Cyber Essentials logo

Cyber

Essentials