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.
An example of a regressive tax is? ...
Where the burden of a tax finally rests is called ...
An economic system in which individual control the productive resources is known as ...
Which of the following is excluded when making national income? ...
If the demand curve facing a firm is sharply downward-sloping, the firm is likely to be ...
Which of the following can be considered as being outside the objectives of public finance? ...
GDP differs from GNP because GDP ...
Inflation can be curbed by ...
When a consumer is at equilibrium, the MRSxy is equal to the ...