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When is an economic choice worth making?
A
Using resources no faster than replacement and keeping pollution within environmental limits.
B
It creates construction jobs and shorter journeys for local firms.
C
The next best alternative given up when making a choice is its opportunity cost.
D
When its benefit exceeds the cost sacrificed, including the next best alternative.
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1.2.4 Costs and benefits of economic choices Flashcards
25 flashcards on OCR GCSE Economics 1.2.4 Costs and benefits of economic choices: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.