Question

question 8 of 10
which term describes the value of what you give up when you choose between two options?
a. opportunity cost
b. value cost
c. equity
d. down payment

Explanation:

Opportunity cost is defined as the value of the next-best alternative that is forgone when making a choice between two options. The other terms do not match this definition: "Value cost" is not a standard economic/business term, equity refers to ownership value, and a down payment is an initial sum paid for a purchase.

Answer:

A. Opportunity cost