The cost on one thing in terms of the alternative given up is known as

1.	The cost on one thing in terms of the alternative given up is known as
Answer» Opportunity cost The cost on one THING in terms of the alternative given up is known as 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 on one THING in terms of the alternative given up is known as 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 on one thing in terms of the alternative given up is known as

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