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.
Specialization often improves economic performance because it ...
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Which of the following is not an advantage of government ownership of enterprises? ...