Opportunity Cost Is

question 338

Multiple Choice

Opportunity cost is

• A) the intrinsic value of an economic good.
• B) the total value of all the alternatives given up when a choice is made.
• C) the value of the opportunity selected when a need is satisfied.
• D) the value of the next highest ranked alternative that must be sacrificed to obtain a want.

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Definitions:

Karst Topography

A terrain shaped by the dissolution of soluble rocks like limestone, featuring sinkholes, caves, and subterranean rivers.

Travertine

A form of limestone deposited by mineral springs, especially hot springs, known for its layered, textured appearance.

Limestone

A sedimentary rock composed mainly of calcium carbonate, typically formed under marine conditions.

Dissolution

The process of dissolving, where a solid becomes incorporated into a liquid to form a solution, often referring to geological processes.