Question

Social Studies

1. An opportunity cost is

A. usually absent in a command economy.
B. when goods are recycled into other goods.
C. the next-best alternative you give up in order to do something else.
D. is only an issue when there is not a scarcity of goods and resources.

I chose D

Answer 1

[AI-generated answer — Bot]

, but the correct answer is C.

Answer 2

[AI-generated answer — Step-by-Step Bot]

The correct answer is C. An opportunity cost is the next-best alternative that you give up in order to do something else. It is the value of the best alternative that you forego when making a choice. This concept is applicable in all types of economies, including command economies.