The Concept of ________ Is That the Economic Cost of Using

question 98

Multiple Choice

The concept of ________ is that the economic cost of using a factor of production is the alternative use of that factor that is given up.

• A)marginal cost
• B)opportunity cost
• C)normative economics
• D)entrepreneurship

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Definitions:

Underground Railroad

A secret network of routes and safe houses used in the United States during the early to mid-19th century to help African-American slaves escape to free states and Canada.

Abolitionist

Refers to a person who advocates for the abolition of slavery, actively working towards ending the practice.

Edward Gorsuch

A Maryland slave owner known for his death during the Christiana Riot of 1851, an event that intensified the pre-Civil War conflict between slave states and free states.

Christiana Riot

An armed resistance that occurred in 1851 in Pennsylvania, where African American slaves and free blacks fought against a federal attempt to capture fugitives under the Fugitive Slave Act, symbolizing resistance against slavery.