This refers to what is sacrificed or given up when making a choice, specifically the value of the next best alternative that is not selected.
Costs and Benefits
Flashcard
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Social Studies
•
9th Grade
•
Easy
Edilbert Gayo
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2 questions
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1.
FLASHCARD QUESTION
Front
Back
Cost
2.
FLASHCARD QUESTION
Front
This refers to the positive gain or advantage obtained from making a choice, specifically the value or satisfaction derived from the option selected.
Back
Benefit
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