Question

Opportunity cost is what must be ______ in order to ______ something else. Opportunity cost forces consumers and producers to make ______.

First Blank Options:
Received
Given Up
Replaced

Second Blank Options:
Give Up
Gain
Replace

Third Blank Options:
Products
Purchases
Choices

Answer 1

Opportunity cost is what must be given up in order to gain something else. Opportunity cost forces consumers and producers to make choices.

Another reference, Opportunity cost refers to a benefit that a person could have received, but gave up, to take another course of action. Stated differently, an opportunity cost represents an alternative given up when a decision is made.

Answer 2

Opportunity cost is what must be given up in order to gain something else. Opportunity cost forces consumers and producers to make choices.

Opportunity cost is defined as what is given up in order to receive something else. There is always something that will be lost when you make a decision to do something else, that's the nature of decision making. Although it's hard, decision making is important and all options should be weighed out evenly.