What You Give Up to Obtain an Item Is Called

question 11

Multiple Choice

What you give up to obtain an item is called your

• A) opportunity cost.
• B) explicit cost.
• C) true cost.
• D) direct cost.

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Definitions:

Households

Units of living or domestic arrangements composed of one or more people who share living quarters and provisions for daily living.

Businesses

Organizations engaged in commercial, industrial, or professional activities, aiming to generate earnings by providing goods or services.

Solid Waste

Refers to non-liquid waste materials arising from domestic, industrial, commercial, and agricultural activities that are not hazardous.