Every time we use scarce resources in one way,we give up the opportunity to use them in other ways.

Name: Every time we use scarce resources in one way,we give up the opportunity to use them in other ways.
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Question

Quizplus · Accepted Answer

This statement is an accurate definition of the concept of opportunity cost, which highlights the idea that our choices involve trade-offs and we have to forego other alternatives when we make a decision with limited resources.

Every Time We Use Scarce Resources in One Way,we Give