In economics,the cost of something is
A)the dollar amount of obtaining it.
B)always measured in units of time given up to get it.
C)what you give up to get it.
D)often impossible to quantify,even in principle.

Question

Quizplus · Accepted Answer

The cost of something is what you give up to get it, also known as opportunity cost. It includes not only the monetary cost, but also the time, effort, and other resources that were sacrificed in order to obtain the good or service. Therefore, option C is the best choice. Option A is too narrow in scope, and option B is not always applicable. Option D may be true in some cases, but it is not a general principle in economics.

In Economics,the Cost of Something Is