Economic Choice 2

The alternative that you give up when you make an economic choice.

• Incentives

• Trade-offs

Trade-offs involve giving up some of one thing to gain more or another.

• True

• False

All economic choices does not involves opportunity cost

• True

• False

Making decisions according to what you believe is the best combination of costs and benefits.

• True

• Never

What is Max's opportunity cost of five hours of extra study?