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Fact 1.3.1 Costs Soar for London Olympics
The regeneration of East London,the site of the 2012 Olympic Games,is set to add extra £1.5 billion to taxpayers' bill.
Source: The Times,London,July 6,2006
-Refer to Fact 1.3.1.The cost of regenerating East London ________ an opportunity cost of hosting the 2012 Olympic Games ________.
A)is not;because few people attending the 2012 Olympics will spend much time outside Olympic venues
B)is;if the costs of the East London regeneration is equal to a significant percentage of the total amount spent by London taxpayers to host the 2012 Olympics
C)is;if the regeneration of East London would not occur unless London hosted the 2012 Olympics
D)is not;because regenerating East London is an unnecessary expense
E)is;if the property taxes of people living in East London increase

Question

Quizplus · Accepted Answer

The cost of regenerating East London is considered an opportunity cost of hosting the 2012 Olympic Games if the regeneration would not have occurred without the event, implying resources were allocated specifically for the Olympics that could have been used elsewhere.

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