The Opportunity Cost of a Resource

question 148

Multiple Choice

The opportunity cost of a resource

• A)includes both explicit and implicit cost
• B)includes explicit cost only
• C)includes implicit cost only
• D)is equal to the market price of the resource
• E)is not related to the market price of the resource

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Definitions:

Social Capital

The networks, relationships, and connections in a society that enable cooperation, support, and exchange of resources.

Large Networks

Extensive systems of interconnected people or things, especially within the context of social media or telecommunications.

Promote

To actively support or encourage interest in an item, cause, or idea, often through advertising or publicity.

Altruistic

Showing a selfless concern for the well-being of others, often characterizing acts done without expectation of personal gain.