Opportunity Cost Is Best Defined as The

question 42

Multiple Choice

Opportunity cost is best defined as the:

• A)sum of all alternatives given up when a choice is made.
• B)money spent once a choice is made.
• C)highest-valued alternative given up when a choice is made.
• D)cost of a good minus the satisfaction obtained from consuming it.
• E)cost of capital resources used in the production of additional capital.

---

Definitions:

College Graduates

Individuals who have completed a course of study at a college or university, usually obtaining a degree as evidence of their achievement.

Skilled Workers

Employees who have acquired specialized skills, knowledge, and abilities to perform specific tasks.

Unskilled Workers

Unskilled workers are individuals who possess no specific training or special skills for the jobs they perform, often involving manual labor.

High-Skilled Workers

Employees with advanced education, experience, and skills, often requiring specialized training or knowledge.