Opportunity Cost Is the

question 139

Multiple Choice

Opportunity cost is the

• A)cost incurred when one fails to take advantage of an opportunity.
• B)cost incurred in order to increase the availability of attractive opportunities.
• C)cost of the best option forgone as a result of choosing an alternative.
• D)drudgery of the undesirable aspects of an option.

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Definitions:

Trade Restrictions

Measures imposed by governments to control or limit the exchange of goods and services across their borders, including tariffs, quotas, and embargoes.

Comparative Advantage

The ability of an entity to produce goods or services at a lower opportunity cost than others, leading to more efficient trade.

Exports Cars

The activity of selling and shipping cars from one country to another, contributing to a country's trade balance.

Imports Cheese

The act of bringing cheese into one's country from another to sell.