passwella.
Menu

WAEC Economics 2009 Question 2

Question 2

Basic Concepts

The concept of opportunity cost is also referred to as

  1. A.social cost
  2. B.real cost
  3. C.fixed cost
  4. D.variable cost
Show the answer and explanation

Answer: B (real cost)

Explanation

Opportunity cost, the alternative given up, is also called real cost.