ECONOMICS
OPPORTUNITY COST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Choosing to make cars instead of trucks results in
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opportunity cost
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increased wealth
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expanding the production possibilities curve
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busy roads
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Explanation:
Detailed explanation-1: -The opportunity cost of a good is the alternative goods forgone. the price of alternative goods foregone.
Detailed explanation-2: -In economics, land comprises all naturally occurring resources as well as geographic land. Examples include particular geographical locations, mineral deposits, forests, fish stocks, atmospheric quality, geostationary orbits, and portions of the electromagnetic spectrum. Supply of these resources is fixed.
Detailed explanation-3: -The answer is B.) a lawyer’s personal computer. Capital is the factor of production that enhances the productivity of labor.
There is 1 question to complete.