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Subjects
Class 11Home ScienceWork, Livelihood and CareerTraditional occupations in India - AgricultureExpertLevel 8

Which is the correct example of opportunity cost in agriculture?

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Answer and explanation

Correct answer: Farmer's time spent on one crop causing loss of opportunity in another enterprise

Opportunity cost is the value of the option forgone when another is chosen. Exam tip: link it with decision cost.

Tags

home-scienceopportunity-costfarm-managementdecision-making

Frequently asked questions

What is the correct answer to this question?

Farmer's time spent on one crop causing loss of opportunity in another enterprise

Why is this the correct answer?

Opportunity cost is the value of the option forgone when another is chosen. Exam tip: link it with decision cost.

Which subject and chapter does this question cover?

This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Traditional occupations in India - Agriculture.

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