Opportunity Cost Is

question 338

Multiple Choice

Opportunity cost is

• A) the intrinsic value of an economic good.
• B) the total value of all the alternatives given up when a choice is made.
• C) the value of the opportunity selected when a need is satisfied.
• D) the value of the next highest ranked alternative that must be sacrificed to obtain a want.

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Definitions:

Hybrid Vehicles

Automobiles powered by a combination of internal combustion engines and electric motors, using energy stored in batteries, aiming for increased fuel efficiency and reduced emissions.

High-Voltage System

Electrical systems operating at voltages higher than standard, often found in electric and hybrid vehicles, requiring special safety precautions.

Red Wiring

Electrical wiring that is color-coded red, often indicating a positive power connection in a circuit.

Whining Noise

A high-pitched sound, often emanating from machinery or vehicles, usually indicating a mechanical issue or stress on components.