The Opportunity Cost of Any Action Is

question 66

Multiple Choice

The opportunity cost of any action is

• A) all the possible alternatives given up.
• B) the highest-valued alternative given up.
• C) the benefit from the action minus the cost of the action.
• D) the dollars the action cost.

---

Definitions:

Cultures

The shared values, beliefs, and practices of a group of people that shape their behavior and attitudes.

High-context Cultures

High-context cultures are societies in which communication relies heavily on the contextual elements like social cues and relationships rather than explicitly stated words.

Intuitive

Easily understood or operated without explicit instruction, based on what feels natural or obvious.

Contemplative

Contemplative describes a state or mood of deep reflection or thoughtful observation, often leading to insight or a deeper understanding of a subject.