Opportunity Costs Arise When the Choice of One Course of Action

question 32

True/False

Opportunity costs arise when the choice of one course of action eliminates the possibility of another course of action.

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Definitions:

Convey

To communicate or make known information, ideas, or feelings.

Visual

Pertaining to sight or vision, or presented in a form that can be seen or perceived with the eyes.

Tell, Show, Tell Rule

A communication technique where information is first stated, then demonstrated or illustrated, and finally reiterated to enhance understanding.

Implicit Favorite

An underlying preference or bias for a particular option or person that is not explicitly acknowledged.