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:

Federal Action

Legal proceedings initiated by or involving a federal government agency or its interests.

Environmental Impact Statement

A document that outlines the potential environmental effects of proposed projects or actions, often required by law before such activities can proceed.

Unsecured Creditor

A creditor who lends money without obtaining specified assets as collateral, making recovery of loaned funds upon debtor's default less certain.

Secured Creditor

a creditor with the right to claim specific assets of the debtor in case of nonpayment of a debt.