The Opportunity Cost of a Good Is the Same as Its

question 83

Multiple Choice

The opportunity cost of a good is the same as its

• A)relative price.
• B)money price.
• C)price index.
• D)None of the above.

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Definitions:

Piaget

Refers to Jean Piaget, a Swiss psychologist known for his pioneering work in child development and his theory of cognitive development.

Sensorimotor

A developmental stage in infants and toddlers coined by Piaget that involves learning through interacting with the environment, using sensory experiences and motor actions.

Formal Operations

the final stage of cognitive development in Piaget’s theory, characterized by the ability to think abstractly, logically, and systematically.

Moral Judgments

Evaluations or decisions based on the determination of actions as right or wrong based on a set of ethics or morality.