which of these best describes an opportunity cost?\n a win - win\n a loss\n a chance\n a trade - off
which of these best describes an opportunity cost?\n a win - win\n a loss\n a chance\n a trade - off
Answer
Answer:
D. a trade - off
Brief Explanations:
Opportunity cost is the value of the next best alternative forgone. It represents a trade - off when making a decision, as choosing one option means giving up another. A win - win is not related to opportunity cost. A loss is a different concept. A chance is a general term not specific to opportunity cost. So, opportunity cost is best described as a trade - off.