Skip to content

Course home

1.2.3 Opportunity cost

Card 1 of 20

Why does scarcity create opportunity cost?

A

The concert ticket that was the next best use of £45.

B

One - only the next best alternative counts.

C

Using a scarce resource for one purpose rules out its other uses.

D

The revision they would otherwise have done.

Card 1 of 20

1.2.3 Opportunity cost Flashcards

  1. GCSE
  2. /Economics
  3. /1.2.3 Opportunity cost

20 flashcards on OCR GCSE Economics 1.2.3 Opportunity cost: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.

Flashcards