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Subjects
Class 11Home ScienceWork, Livelihood and CareerWork, careers and livelihoodExpertLevel 5

What does opportunity cost mean in livelihood strategy?

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Answer and explanation

Correct answer: Value of the next best option given up when one option is chosen

Opportunity cost explains the real price of a decision. In exams remember choice and sacrifice together.

Tags

opportunity-costlivelihood-decisionchoice

Frequently asked questions

What is the correct answer to this question?

Value of the next best option given up when one option is chosen

Why is this the correct answer?

Opportunity cost explains the real price of a decision. In exams remember choice and sacrifice together.

Which subject and chapter does this question cover?

This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Work, careers and livelihood.

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