Which of the Following Statements Concerning Opportunity Costs Is False

question 45

Multiple Choice

Which of the following statements concerning opportunity costs is false?

• A)Opportunity costs are only expressed in money terms.
• B)Every choice involves opportunity costs.
• C)Opportunity costs are the highest-valued alternatives that must be forgone when a choice is made.
• D)The concept of opportunity cost is used to demonstrate scarcity.
• E)Economists refer to the forgone benefits of the next-best alternative as opportunity costs.

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Definitions:

Glucose

A simple sugar that is an important energy source in living organisms and is a component of many carbohydrates.

Bonds

Financial instruments representing a loan made by an investor to a borrower, typically corporate or governmental, with terms defining the interest rate and mature date for repayment.

Muscles

Tissues in the body made up of fibers that contract to produce movement or maintain posture.

Energy of Activation

The minimum amount of energy required to start a chemical reaction.