Economics 9708 · AS & A Level · Scarcity, choice and opportunity cost

Scarcity, choice and opportunity cost — practice question

What is the opportunity cost for a person of using $20 to purchase a new pair of sports shoes?

  • Aall the other things the person could have bought
  • Bthe cost of getting to the sports shop
  • Cthe current value of the person’s old pair of shoes
  • Dthe next best thing that could have been bought with the $20

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