Q : Opportunity cost refers to all the things that a person has to give up in making a choice. Do you agree? Explain.
and i want to ask wt is the skill of answering this Q like this? THX!!!!!!!
Economics questions
2011-09-08 4:03 am
回答 (3)
2011-09-09 8:10 pm
✔ 最佳答案
NOOpportunity cost is definded as the highest valued-option forgone.
Only the highest value option forgone(2nd choice) is relevent for making decision. Therefore, a person needs to give up only the best alternative, mot all the things.
the skill of answering a question is 1.answer yes/no/uncertain first.
2. give the definition of the key words(cost in this question)
3. explain why u answer yes/no/uncertain with supporting ideas/proofs
2011-09-09 2:19 am
Opportunity cost is the highest-valued option forgone or highest-valued alternative uses of resources. Since not all options has to give up, the statement is wrong.
2011-09-08 5:08 am
First, give the definition of opportunity cost, i.e. opportunity cost is the next highest valued option foregone.
Second, explain the difference and the common of your definition and the question's definition.
Lastly, your conclusion whether you agree or not.
Second, explain the difference and the common of your definition and the question's definition.
Lastly, your conclusion whether you agree or not.
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