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The amount of a good that must be given up to produce another good is the concept of:
a. scarcity.
b. specialization.
c. trade.
d. efficiency.
e. opportunity cost.
Answer
e.
) Opportunity cost is the cost associated with giving up one opportunity for the benefit earned by another.
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Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017
This 29 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 555 views.