The Opportunity Cost of a Decision Is the Value of the Best

question 206

True/False

The opportunity cost of a decision is the value of the best foregone alternative to the decision-maker.

---

Definitions:

Financial Implications

The potential economic outcomes or consequences associated with a decision, action, or event.

Whiney Voice

A term that might describe a high-pitched, complaining, or grumbling manner of speaking, often perceived as annoying.

Throws a Tantrum

A sudden, intense expression of anger or frustration, often characterized by shouting, crying, or physical outbursts, commonly observed in children.

Id

A term from psychoanalytic theory referring to the part of the psyche associated with instinctual impulses and demands for immediate satisfaction of basic needs.