The expression of cost in terms of alternative ... - JAMB Economics 2018 Question
The expression of cost in terms of alternative forgone is referred to as ____?
A
Scarce resources
B
Decision making
C
Opportunity cost
D
Choice
correct option: 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.
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