tb mc qu. 01-20 opportunity costs exist because... opportunity costs exist because multiple choice most…
tb mc qu. 01-20 opportunity costs exist because... opportunity costs exist because multiple choice most decisions do not involve sacrifices or trade - offs. the decision to engage in one activity means forgoing some other activity. households and businesses make rational decisions. wants are scarce relative to resources.
Answer
Brief Explanations:
Opportunity cost is the value of the next - best alternative forgone when a decision is made. Since resources are limited and we can't do everything at once, choosing one activity means giving up another.
Answer:
B. the decision to engage in one activity means forgoing some other activity.