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Cambridge IGCSE Economics (0455)
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Econ_level 2_economic Principles_opportunity Cost
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Question
Define opportunity cost.
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Answer
The next best alternative foregone when a choice is made.
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1
Define opportunity cost.
2
Why is opportunity cost not every rejected option?
3
What is the opportunity cost of spending income?
4
What is the opportunity cost of a firm using a machine for one product?
5
When can opportunity cost change?