(a) To learn a way of thinking
The best alternative that we forgo when we make
a choice or a decision is the opportunity cost of
Opportunity costs arise because resources are
People must decide how to
divide their incomes among all the goods and
services available in the marketplace.
They must decide whether to work, whether to
go to school, and how much to save. Businesses
must decide what to produce, how much to produce,
how much to charge, and where to locate.