Question

describe the concept of opportunity cost

Answer 1

Opportunity cost is a key concept in economics, and has been described as expressing "the basic relationship between scarcity and choice." The notion of opportunity cost plays a crucial part in attempts to ensure that scarce resources are used efficiently

Answer 2

opportunity cost of key concept in economic and has been described as being expressing the basic relation between sacricity and choose opportunity give a cost referred to benefit of a person could have received keep up to take another cost of action