Cameroon GCE O-Level Economics Practice Questions - Cameroon General Certificate Of Education Ordinary Level - Economics (Subject Code 0525) Exam

How is opportunity cost defined in economics?

The total monetary expenditure incurred when purchasing a commodity The next best alternative forgone when a choice is made The fixed production cost of producing one additional unit of a good The depreciation value of capital equipment over a given financial year

Correct Answer:

The next best alternative forgone when a choice is made

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