The Concept of Opportunity Cost

question 118

Multiple Choice

The concept of opportunity cost

• A)cannot be explained by using a production possibilities frontier.
• B)explains that goods are swapped for other goods.
• C)implies that when a person is more efficient in the production of one good, he should produce that good and exchange it for some good that he is relatively less efficient at producing.
• D)implies that a double coincidence of wants must be present for exchange to take place.
• E)implies that because productive resources are scarce, we must give up some of one good to acquire more of another.

---

Definitions:

Investigator Allegiance

The potential for a researcher's preference or belief in the efficacy of a treatment to influence the outcome of a study.

Obsessive-Compulsive Disorder (OCD)

A mental health disorder characterized by repetitive, unwanted thoughts (obsessions) and behaviors (compulsions) that the person feels driven to perform.

Behavioral (Exposure) Therapies

A form of psychotherapy that involves reducing fear and anxiety responses through gradual exposure to the feared object or situation.

Clinical Improvement

A measurable upgrade in a patient's condition following treatment, often assessed through standardized scales or clinician observations.