Practice - Opportunity Cost
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Practice Questions
Test your understanding with targeted questions
What does opportunity cost mean?
💡 Hint: Think about the option you gave up when you made your choice.
Give an example of opportunity cost in everyday life.
💡 Hint: Consider choices you make daily and what you forfeit.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is the definition of opportunity cost?
💡 Hint: Focus on what is lost when a choice is made.
True or False: Opportunity cost applies only to financial decisions.
💡 Hint: Think broadly about daily choices.
1 more question available
Challenge Problems
Push your limits with advanced challenges
A student has a choice to spend two hours studying for an exam or working at a part-time job for the same duration. Analyze the opportunity costs involved in this decision.
💡 Hint: Evaluate the benefits of each choice.
Consider a local government deciding between funding a new sports facility or building a library. Discuss the opportunity costs involved in this decision.
💡 Hint: Focus on the benefits each option provides.
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