Which of the Following Statements Is FALSE About Opportunity Cost

question 147

Multiple Choice

Which of the following statements is FALSE about opportunity cost?

• A)Cost is always foregone opportunity.
• B)Opportunity cost is the next best alternative.
• C)John wants a burger and fries. The concept of opportunity cost applies even though he has enough funds to buy both.
• D)Opportunity cost exists only for goods with monetary values.

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Definitions:

Personality Assessment

The measurement and evaluation of psychological traits, characteristics, and performance, often to discover individual differences.

Behavioral Assessment Procedures

Behavioral assessment procedures are methodologies used to observe, describe, explain, and predict behavior in a variety of contexts.

Projective Techniques

A method used in psychology to uncover the hidden emotions and attitudes of individuals through the interpretation of ambiguous stimuli.

Reliability

The consistency of response to a psychological assessment device.