Question

    Which among the following represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another?

    A Sunk Cost Correct Answer Incorrect Answer
    B Relevant Cost Correct Answer Incorrect Answer
    C Irrelevant Cost Correct Answer Incorrect Answer
    D Variable Cost Correct Answer Incorrect Answer
    E Opportunity Cost Correct Answer Incorrect Answer

    Solution

    Opportunity Cost represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another.

    Practice Next
    ×
    ×