What is the opportunity cost of a good?

The quantity of other goods sacrificed to get another unit of that good.

Answered by George W. Economics tutor

5365 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

How am I best able to improve my evaluation skills in essays in order to achieve higher marks?


What is consumer and producer surplus?


Explain how to calculate Price Elasticity of Demand


Explain the 2 ways in which a reduction in interest rates can change consumption in the aggregate demand model of the economy.


We're here to help

contact us iconContact usWhatsapp logoMessage us on Whatsapptelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences