An Opportunity Cost Is ________

question 56

Multiple Choice

An opportunity cost is ________.

• A) the additional costs generated by a proposed alternative
• B) the difference in total cost between two alternatives
• C) a cash disbursement in the future
• D) the maximum available benefit foregone by using a resource for a particular purpose instead of the best alternative use

---

Definitions:

Entrepreneurial Method

An approach to entrepreneurship that focuses on iterative learning and adaptation in the process of starting and growing a business.

Consistent Practice

The regular and repeated exercise of an activity or skill to improve proficiency and achieve mastery over time.

Family Enterprise

A business that is owned and managed by multiple family members, typically for more than one generation.

Entrepreneurship

The act of establishing a company or companies, while accepting monetary risks with the aspiration of earning profits.