unit 1 economic fundamentals test\nwhen you decide on a trade - off, the next best alternative not selected…

unit 1 economic fundamentals test\nwhen you decide on a trade - off, the next best alternative not selected is called\n- opportunity cost\n- scarcity cost\n- scarcity\n- comparative disadvantage

unit 1 economic fundamentals test\nwhen you decide on a trade - off, the next best alternative not selected is called\n- opportunity cost\n- scarcity cost\n- scarcity\n- comparative disadvantage

Answer

Brief Explanations:

In economics, when a decision is made, the next - best alternative not chosen is called the opportunity cost. It represents the value of the forgone alternative.

Answer:

opportunity cost