Economics
JAMB 2018
The expression of cost in terms of alternative forgone is referred to as ____?
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A.
Scarce resources
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B.
Decision making
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C.
Opportunity cost
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D.
Choice
Correct Answer: Option C
Explanation
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.
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