The Things That Must Be Forgone to Acquire a Good

question 560

Multiple Choice

The things that must be forgone to acquire a good are called

• A)implicit costs.
• B)opportunity costs.
• C)explicit costs.
• D)accounting costs.

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Definitions:

Ethnic Minorities

Refers to groups within a larger society that have distinct cultural, linguistic, religious, or racial characteristics, which differ from the majority population.

Asian-Americans

A diverse group of Americans of Asian descent, who trace their roots to various countries in Asia.

Mexican-Americans

A demographic group in the United States with Mexican ancestry, forming a significant part of the nation’s Hispanic or Latino population.