Question

Which of the following illustrates an opportunity cost?

Answer 1

Heya...

Money is an instrument which is commonly accepted as a medium of exchange...

Money is authorized launched and selected by govt and issued by central bank RBI in India.

Answer 2

Opportunity cost is an example of micro economy. This can be also known as the alternative cost which considers the cost for going another better service that a consumer can obtain from that commodity.

There must be a consideration on risk and benefits when an individual makes an economic decision. This is why an opportunity cost must measure the risk that to be taken against a benefit.