The cost of an economic decision that is the most attractive option that is given up because one choice was made over another. What is this called?
A. opportunity cost
B. trade-off
C. limited resource
D. none of the above

I believe the answer is A

Question

The cost of an economic decision that is the most attractive option that is given up because one choice was made over another. What is this called?
	A.	opportunity cost
	B.	trade-off
	C.	limited resource
	D.	none of the above


I believe the answer is A

anonymous · Answer

http://www.economicswisconsin.org/guide/glossary.htm

anonymous · Answer

yes so it nis A correct?

anonymous · Answer

In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone, in a situation in which a choice needs to be made between several mutually exclusive alternatives given limited resources. Assuming the best choice is made, it is the "cost" incurred by not enjoying the benefit that would be had by taking the second best choice available! http://en.wikipedia.org/wiki/Opportunity_cost

anonymous · Answer

A trade-off (or tradeoff) is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect. It often implies a decision to be made with full comprehension of both the upside and downside of a particular choice; the term is also used in an evolutionary context, in which case the selection process acts as the "decision-maker". http://en.wikipedia.org/wiki/Trade-off

anonymous · Answer

It's not ''Limited resource''

anonymous · Answer

i think its A

anonymous · Answer

is my answer correct or not?

anonymous · Answer

Yep! I would say so!
@bookworm00981 What do you say ?