Explain, in brieef, the meaning of opportunity cost.

1.	Explain, in brieef, the meaning of opportunity cost.
Answer» <html><body><p></p>Solution :A benefit, <a href="https://interviewquestions.tuteehub.com/tag/profit-1168589" style="font-weight:bold;" target="_blank" title="Click to know more about PROFIT">PROFIT</a>, or value of <a href="https://interviewquestions.tuteehub.com/tag/something-25913" style="font-weight:bold;" target="_blank" title="Click to know more about SOMETHING">SOMETHING</a> that must be given up to acquire or achieve something else. Since every resource (land, money, <a href="https://interviewquestions.tuteehub.com/tag/time-19467" style="font-weight:bold;" target="_blank" title="Click to know more about TIME">TIME</a>, etc.) can be put to <a href="https://interviewquestions.tuteehub.com/tag/alternative-858623" style="font-weight:bold;" target="_blank" title="Click to know more about ALTERNATIVE">ALTERNATIVE</a> uses, every action, choice, or decision has an associated opportunity cost.</body></html>

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