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opportunity costcost of the next best alternative use of money, time, or resources when one choice is made rather than another. ( T/F)

User Vanje
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1 Answer

2 votes

Answer:

T

Explanation:

The scarcity of a goods means that the choice of one alternative overrides the other. Opportunity cost affects peoples choices. It is the best alternative for making a particular choice. I will illustrate with this example. If you spend time going to the supermarket to shop, you wont be a able to spend that time for something else and also the money for something else.

User Swaprks
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