The Term Opportunity Cost Suggests That

question 44

Multiple Choice

The term opportunity cost suggests that

• A)in any exchange situation where one person gains, someone else must lose
• B)not all individuals make the most of life's opportunities
• C)executives do not always recognize opportunities for profit as quickly as they should
• D)the only factor that is important in decision making is cost
• E)because goods are scarce, in order to get some good you must give up some other good in return

---

Definitions:

Act Consequentialism

A moral theory that assesses the morality of actions based on their outcomes or consequences.

Act Consequentialism

An ethical theory that judges the moral worth of an action based solely on the outcomes or consequences of that action.

Case-by-case Basis

An approach to decision-making that involves evaluating each situation individually rather than applying a general rule.

Commit Perjury

The act of lying or making verifiably false statements under oath in a legal proceeding, which is a criminal offense.