The expression of cost in terms of alternative forgone is...
The expression of cost in terms of alternative forgone is referred to as ____?
Scarce resources
Decision making
Opportunity cost
Choice
Correct answer is C
Opportunity cost is defined as the expression of cost in terms of alternative forgone. It is the satisfaction of one’s want at the expense of another want.
A firm average cost decreases in the longrun because? ...
Malthus observed in his theory that population was growing ...
The average tax rate is defined as ...
Foreign exchange control in Nigeria is enforced by the ...
International income accounting, double counting occurs when ...
During the era of barter, money was generally in the form of ...
When public enterprises become commercialized, it means that ...
Agriculture is central to Nigeria's economic development because ...