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Which Statement Is TRUE

question 77

Multiple Choice

Which statement is TRUE?


Definitions:

Opportunity Cost

The worth of the best alternative given up when a decision is made.

Cost-Benefit Analysis

An evaluation process that compares the costs and benefits of a decision or project to determine its feasibility or worth.

National Defense

Activities and measures taken by a government to protect its country from external threats and ensure national security.

Rival In Consumption

A feature of a quality good where if one person consumes it, others cannot consume it at the same time.

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