What Is the Opportunity Cost of an Item

question 71

Multiple Choice

What is the opportunity cost of an item?

• A) the number of hours needed to earn money to buy it
• B) what you give up to get that item
• C) always less than the dollar value of the item
• D) always equal to the dollar value of the item

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Definitions:

Socio-economic

Relating to or concerned with the interaction of social and economic factors.

Opportunities Fund

A financial resource or program designed to support specific groups of people or projects, often aimed at creating or enhancing opportunities for growth, education, or development.

Employment

The condition of having paid work, involving a contractual relationship wherein one performs services under the control of another for remuneration.

World Health Organization

A specialized agency of the United Nations responsible for international public health.