Asked by
Roylyn Mc Natt
on Nov 11, 2024Verified
Opportunity cost is always measured in dollar terms,rather than in terms of real goods and services.
Opportunity Cost
The worth of the best option given up because of a choice made.
Dollar Terms
Financial transactions or economic measurements that are denominated in the U.S. dollar currency.
- Understand the effects of opportunity costs in non-financial aspects.
Verified Answer
YM
Learning Objectives
- Understand the effects of opportunity costs in non-financial aspects.
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