Which of the following is not an illustration of the notion of opportunity cost?
A)A growing economy can produce more ice cream and more ice cream cones at the same time.
B)If I buy a pizza, I will not be able to afford a movie.
C)Resources devoted to the production of computers are not available for the production of computer software.
D)The land on which a Saskatchewan farmer plants wheat is not available for barley production.
E)The more time it takes to commute to work, the less time is available for other activities.

Question

Quizplus · Accepted Answer

Option A describes the concept of increasing production through efficient use of resources, but it does not involve any trade-offs or opportunity costs. Options B, C, D, and E all involve making a choice between two alternatives and sacrificing the opportunity to pursue the other alternative.

Which of the Following Is Not an Illustration of the Notion