ECONOMICS
OPPORTUNITY COST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Redirecting resources from one area to another is called ____
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opportunity costs
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rationing
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reallocation
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alternative
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Explanation:
Detailed explanation-1: -When organizations reallocate money or resources, they decide to change the way they spend the money or use the resources.
Detailed explanation-2: -A second important source of efficiency improvement is the reallocation of resources from less productive toward more productive sectors. A notable example is the migration of labor and capital from agriculture to manufacturing, from light industries to HCIs, and from rural to urban areas.
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