Opportunity Cost

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Opportunity Cost Quizzes & Trivia

Quiz on Opportunity Cost


Questions and Answers
  • 1. 
    Opportunity cost is defined as the value of?
    • A. 

      The best forgone alternative

    • B. 

      The sum of all other alternatives

    • C. 

      The worst forgone alternative

    • D. 

      The difference between the actual choice and the best forgone alternative

  • 2. 
    What was the opportunity cost of saving Private Ryan
    • A. 

      The value of Private Ryan's life

    • B. 

      The difference in value between Private Ryan's life and the other lives lost

    • C. 

      The many lives lost in the process

    • D. 

      Any of the above is an acceptable answer

  • 3. 
    A significant limitation of opportunity cost is?
    • A. 

      The market value of objects cannot be determined

    • B. 

      Opportunity cost is not used in daily decision-making

    • C. 

      Opportunity cost does not consider the best forgone alternative

    • D. 

      There is no universal value to an object