The Opportunity Cost of an Activity Is

question 24

Multiple Choice

The opportunity cost of an activity is

• A)zero if you choose the activity voluntarily
• B)the amount of money spent on the activity
• C)the value of the best alternative not chosen
• D)the sum of benefits from all of the sacrificed alternatives
• E)the difference between the benefits and the costs of that activity

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Definitions:

Structured Interview

A research method in which each participant is asked the same set of questions in the same way.

Questionnaire

A research instrument consisting of a series of questions for the purpose of gathering information from respondents.

Data

Refers to qualitative or quantitative variables collected for analysis and used to make decisions or conclusions.

Findings

Conclusions or results discovered from research, experiments, or inquiries, regarded as significant insights or evidence.