Which of the Following Would Be Categorised as an Opportunity

question 115

Multiple Choice

Which of the following would be categorised as an opportunity cost? (i) wages of workers
(ii) raw material costs
(iii) forgone investment opportunities

• A) (i) and (iii)
• B) (iii) only
• C) (ii) and (iii)
• D) (i), (ii) and (iii)

---

Definitions:

Assumption of Risk

A legal defense that claims an individual voluntarily and knowingly assumed the danger inherent to a risky activity they participated in.

Section 402A

A section of the Restatement (Second) of Torts in American law that addresses the liability of the seller for harm caused by a product despite the absence of a contractual relationship.

Preemption

A legal doctrine under which a higher authority's laws take precedence over those of a lower authority when both entities have the power to legislate on a subject.

Mootness

A concept whereby a case is deemed inadmissible for judicial review if the underlying issue has been resolved or rendered irrelevant.