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The amount of a good that must be given up to produce another good is the concept of: a. scarcity. b. specialization. c. trade. d. efficiency. e. opportunity cost.

The amount of a good that must be given up to produce another good is the concept of: a. scarcity. b. specialization. c. trade. d. efficiency. e. opportunity cost.
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The amount of a good that must be given up to produce another good is the concept of:

a.
scarcity.
b.
specialization.
c.
trade.
d.
efficiency.
e.
opportunity cost.

User Vishnu Vinod
by
8.2k points

1 Answer

1 vote
e.) Opportunity cost is the cost associated with giving up one opportunity for the benefit earned by another.
User Lakshya Raj
by
9.1k points
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