(a)[2]
Define what is meant by the term ‘opportunity cost’.
(b)[3]
Explain two reasons why a new business may fail.
Business 9609 · AS & A Level · Costs
Define what is meant by the term ‘opportunity cost’.
Explain two reasons why a new business may fail.
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” …