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Which economic concept is defined as that which people give up when they choose to spend their resources on something else?

Which economic concept is defined as that which people give up when they choose to spend their resources on something else?
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5 votes
Which economic concept is defined as that which people give up when they choose to spend their resources on something else?

User JRoppert
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2 Answers

3 votes
The answer I think is sacarcity
User Melvin Roest
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8.7k points
7 votes
They give there chance up if getting whatever
User Malcolm Boekhoff
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8.6k points
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