An Opportunity Cost Is the

question 141

Multiple Choice

An opportunity cost is the

• A) lowest possible cost.
• B) highest possible cost.
• C) monetary price paid for a good or service.
• D) cost of a purchase or decision as measured by what is given up.
• E) cost of finding the lowest price for a product.

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Definitions:

Decay

The process of decline or deterioration, often used in reference to organic matter breaking down over time.

Processing

The series of actions or steps taken in order to achieve a particular end, often used in the context of information or data handling.

Continuum

A continuous sequence in which adjacent elements are not perceptibly different from each other, but the extremes are quite distinct.

Deep Processing

A method of learning in which information is analyzed in a meaningful way to aid recall and understanding.