The Opportunity Cost of Using a Resource in Some Way

question 28

True/False

The opportunity cost of using a resource in some way is the amount the resource could earn if used in an alternative way.

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Definitions:

Volume

The volume of a material or item is determined by the space it fills or is contained within a vessel.

Material

Any substance or mixture of substances intended for use in various processes or for the manufacture of products.

Density

Density is a physical property that measures the mass of a substance per unit volume, used to characterize the compactness of a material.

Volume

A measurement of the amount of space an object or substance occupies, often measured in liters, cubic meters, or gallons.