(1 point)
Responses
It changes the supply and demand of goods.
It changes the supply and demand of goods.
It requires them to make a choice.
It requires them to make a choice.
It requires them to be producers and consumers.
It requires them to be producers and consumers.
Opportunity cost does not impact wants and needs.
help plz my c00chys!!!
1 answer
The correct response is:
It requires them to make a choice.
Opportunity cost refers to the value of the next best alternative that is foregone when a choice is made. This means that when people decide to allocate their resources (such as time, money, or effort) to one want or need, they must consider what they are giving up in order to fulfill that choice.
