QuestionDecember 16, 2025

The value of the next-best alternative that you give up when you make a choice between two or more options opportunity cost scarcity Labor unemployment

The value of the next-best alternative that you give up when you make a choice between two or more options opportunity cost scarcity Labor unemployment
The value of the next-best alternative that you give up when you make a choice between two
or more options
opportunity cost
scarcity
Labor
unemployment

Solution
4.4(196 votes)

Answer

opportunity cost Explanation 1. Identify the economic term The value of the next-best alternative given up when making a choice is defined as "opportunity cost" in economics.

Explanation

1. Identify the economic term<br /> The value of the next-best alternative given up when making a choice is defined as "opportunity cost" in economics.
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