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1.2.4 Costs and benefits of economic choices
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Comparing benefits and costs

Comparing benefits and costs

Every economic choice compares an expected benefit with a cost. The cost is not only the money paid: it also includes the opportunity cost, which is the next best alternative given up.

1.2.4 Costs and benefits of economic choices Lesson

  1. GCSE
  2. /Economics
  3. /1.2.4 Costs and benefits of economic choices

Step-by-step lessons on OCR GCSE Economics 1.2.4 Costs and benefits of economic choices. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.

Lessons