What happens when individuals or nations choose one thing over another

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29201506 29201506

01-03-2021
Social Studies

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What happens when individuals or nations choose one thing over another

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901lysy2845 901lysy2845 · Answer 1 · 2021-03-01T11:49:36-05:00

901lysy2845 901lysy2845

01-03-2021

Answer: An opportunity cost is what economists call the thing sacrificed when we choose one thing over another. When we opt to buy a bicycle rather than the snowboard, the snowboard is the opportunity cost of our decision.

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