Which of the Following Terms Describes the Next Best Alternative

question 46

Multiple Choice

Which of the following terms describes the next best alternative that must be sacrificed as a result of making a particular choice?

• A)Microeconomics.
• B)Opportunity cost.
• C)Macroeconomics.
• D)The law of increasing costs.
• E)Scarcity.

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Definitions:

Clinical Psychology

A branch of psychology focused on diagnosing and treating mental illness, emotional disturbances, and dysfunctional behavior.

Counselling Psychology

A branch of psychology that focuses on providing therapeutic treatments to clients who experience a wide range of mental health issues and life stresses.

Personality Psychology

The study of personality and individual differences in consistent behavior patterns and mental processes.

Psychometrics

The study dedicated to assessing cognitive functions and abilities.