Opportunity Cost Is the Cost of Not Doing Something

question 91

True/False

Opportunity cost is the cost of not doing something.An opportunity cost is the foregone benefit of the path not taken - the cost of not doing something.

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Definitions:

Plantation Farming

An agricultural production system characterized by large-scale monoculture farming, often historically reliant on slave or cheap labor.

Missouri

A U.S. state located in the Midwestern region, known for its diverse geography, ranging from the Ozark Mountains to the Mississippi River.

Statehood

The condition of being recognized as an independent nation or the admission of a territory into a federation or union as a state.

Slavery

A system in which individuals are owned by others, denied freedom, and forced to work without compensation.