--%>

Explain about the Opportunity Cost in economics

Opportunity cost is explained as the value of the: (w) best alternative specified for the decision made. (x) sum of all alternative choices while a decision is made. (y) monetary cost of making a decision. (z) cost incurred while one ignores alternative choices.

I need a good response on the topic of Economic problem of opportunity cost. Please give me your suggestion.

   Related Questions in Public Economics

  • Q : What would be contained in fundamental

    Fundamental economic questions consist of: (w) what, for whom and how. (x) where, how and when. (y) when, how and what. (z) how many, how much and what color,. Hey friends please give your opinion for the problem o

  • Q : Explain TANSTAAFL TANSTAAFL is an

    TANSTAAFL is an acronym suggestive of that: (1) Tax agents never observe the awful influences from levies. (2) Tenants and needy must take all assets by landlords. (3) There ain't no all things like a free lunch. (4) Temperance and non satiety togethe

  • Q : Better off and worse off condition in

    When an economic change creates one person better off and a thousand persons worse off, this is: (w) good for society. (x) bad for society. (y) neither good nor bad for society. (z) not possible to assess without a value judgment.

  • Q : Critical features of Technological

    New services and goods, new forms and types of equipment, and new knowledge regarding how to combine resources productively are all critical features of: (1) entrepreneurial profits. (2) winning the global war against scarcity. (3) net investment with

  • Q : Illustration of Opportunity Cost How

    How can I solve my economics problems? Please suggest me the accurate answer. Harry Homeowner pays three hundred dollar monthly upon a mortgage within a neighbourhood where matching houses rent for eight hundred dollar per month. T

  • Q : Economist-Conclusion for redistribution

    I want a good answer on the topic of normative economics. Please give me your opinion that if wealth and income both were redistributed by the richest one to the poorest five percent of the population, conclusion of an economist would be that: (w) soc

  • Q : Value of the best foregone alternative

    The value of the best foregone alternative explains: (w) opportunity costs. (x) monetary costs. (y) irrational behavior through a consumer. (z) retail price margins over production costs. How can I solve my above e

  • Q : Economic equity consideration in

    Economic equity considered as to: (1) financial settlements of court cases. (2) the balance of national trade. (3) questions of the fairness of several economic arrangement. (4) passing hidden costs upon to consumers. (5) the gross value of any stocks

  • Q : Entails of a technical approach to

    A technical approach to economics entail: (1) positive questions since this cannot resolve normative matters. (2) normative questions since this cannot resolve positive matters. (3) positive and normative questions since this can resolve all matters.

  • Q : Most dealing of normative economic

    Normative economic statements deal mainly along with: (w) the way things should be. (x) production possibilities frontier analysis. (y) facts in place of theories. (z) how to measure economic variables. Please choo