The Term Opportunity Cost Refers to the

question 81

Multiple Choice

The term opportunity cost refers to the

• A) Value of all the alternatives given up when a good or service is produced.
• B) Financial costs of all the factors of production used to produce a good or service.
• C) Amount of resources used to produce a good but not a service.
• D) Value of the best alternative given up when a good or service is produced.