The Principle of Opportunity Cost Is That

question 10

Multiple Choice

The principle of opportunity cost is that

• A)in a market economy, taking advantage of profitable opportunities involves some money cost.
• B)the economic cost of using a factor of production is the alternative use of that factor that is given up.
• C)taking advantage of investment opportunities involves costs.
• D)the cost of production varies depending on the opportunity for technological application.

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Definitions:

Racial Information

Data or insights related to race, including demographics, cultural background, and issues concerning racial identification and diversity.

Age Discrimination

Unfair treatment of individuals in employment settings because of their age, particularly practices that disadvantage older employees.

Older Workers

Individuals in the workforce who are considered to be in the later stage of their working life, often characterized by age-based criteria.

Age Discrimination

Unfair treatment of individuals based on their age, particularly in employment practices.