Match the Following Abbreviations with Their Definitions

question 17

Multiple Choice

Match the following abbreviations with their definitions.
-Bedtime or at time of sleep

• A)g
• B)gr
• C)gtt
• D)bid
• E)tid
• F)NPO
• G)hs
• H)a.c.
• I)p.c.
• J)c
• K)s

---

Definitions:

Opportunity Cost

The potential benefit that one misses out on when choosing one alternative over another.

Trade

The activity of buying, selling, or exchanging goods and services between people, firms, or countries.

Comparative Advantage

The ability of a country or firm to produce a particular good or service at a lower opportunity cost than its trade partners.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision. It represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.