When the government chooses to use resources to build tourist centers,the chosen resources are no longer available to build highways.This BEST illustrates the concept of:
A) macroeconomics.
B) scarcity.
C) opportunity cost.
D) efficiency.

Question

Quizplus · Accepted Answer

The given situation illustrates the concept of opportunity cost, which states that the cost of any decision is the alternative option that must be foregone. In this case, the government's decision to use resources for building tourist centers means that they have to give up the opportunity to use the same resources for building highways. Therefore, the best choice is C, i.e., opportunity cost, which precisely defines this scenario.

When the Government Chooses to Use Resources to Build Tourist