An Opportunity Cost Is

question 61

Multiple Choice

An opportunity cost is:

• A)the foregone benefit of the path not taken.
• B)an actual outlay of cash.
• C)the initial investment required to pursue an opportunity.
• D)a cost that cannot be traced to a specific cost object.

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Definitions:

Geographic Movement

Refers to the migration or movement of people, goods, and ideas across different geographic locations.

Revolutionary War

The conflict between the Thirteen American colonies and British government that led to the independence of the United States, occurring from 1775 to 1783.

Concrete Step

A specific, actionable measure taken to achieve a particular goal or to implement a plan.

Financial Compensation

Payment provided to someone in exchange for an injury, loss, or the performance of a service or job.