Quizzes and worksheets on this website have been developed in Flash format. Flash is no more supported by browsers. Very few browsers are still supporting Flash. To view them properly on your mobile phones/ desktop, you will have to install Puffin Web Browser. Visit https://www.puffin.com/
It is 100% safe.
We have 116 guests and no members online
The answer must include the following:
Definition of opportunity cost: the (next) best alternative foregone as a result of making a decision
Diagram of production possibility curve – axes correctly labelled and curve correct shape (bowed out or straight downward sloping)
Explanation – idea of moving along one axis has the effect of a reverse movement along the other axis