What Is the Term That Means Whatever Must Be Given

question 108

Multiple Choice

What is the term that means whatever must be given up to obtain an item?

• A) efficiency
• B) externality
• C) opportunity cost
• D) equilibrium

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Definitions:

Oral

Pertaining to words spoken, rather than written, used for communication.

Stop-Payment Order

An instruction given to a bank by an account holder not to pay or to halt a payment that has been issued on a check or an electronic withdrawal.

Authorized

Having official permission or approval to do something.

Drawer

In a transaction involving a check or draft, the drawer is the party that writes and signs the check, ordering the bank to pay a specified sum to the payee.