Opportunity Costs Are

question 6

Multiple Choice

Opportunity costs are

• A)subjective because each person determines the value of forgone alternatives.
• B)objective because they can always be put in monetary terms.
• C)subjective because it is impossible to put a monetary value on forgone alternatives.
• D)objective because specific things are given up when making a choice.

---

Definitions:

Competition Act

A legal statute designed to prevent anti-competitive practices in the marketplace, protecting consumers and ensuring fair competition among businesses.

Misleading Advertising

Advertising that deceives or is likely to deceive, and can affect purchasing decisions.

Competition Act

Legislation designed to prevent anti-competitive practices in the marketplace, promoting fair competition for the benefit of consumers.

Competition Tribunal

A specialized legal body or court responsible for adjudicating issues related to competition law and antitrust policies.