Business 9609 · AS & A Level · Costs

Costs — practice question

(a)[2]

Define what is meant by the term ‘opportunity cost’.

(b)[3]

Explain two reasons why a new business may fail.

Worked solution & mark scheme

This 5-mark question has a full step-by-step worked solution and mark scheme. One marking point: Choice/decision to sacrifice an alternative/next best option

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