The cost of one thing in terms of the alternative given up is called

1.	The cost of one thing in terms of the alternative given up is called
Answer» Opportunity COST The cost of one thing in terms of the ALTERNATIVE given up is called Opportunity cost. Opportunity cost is an economics term that refers to the value of what you have to GIVE up in ORDER to choose something ELSE.

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Opportunity COST

The cost of one thing in terms of the ALTERNATIVE given up is called Opportunity cost. Opportunity cost is an economics term that refers to the value of what you have to GIVE up in ORDER to choose something ELSE.

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The cost of one thing in terms of the alternative given up is called

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