Home
Class 11
ECONOMICS
Define opportunity cost....

Define opportunity cost.

Text Solution

Verified by Experts

The value of next best alternative foregone
Doubtnut Promotions Banner Mobile Dark
|

Topper's Solved these Questions

  • DEMAND AND ITS DETERMINANTS

    SANDEEP GARG|Exercise Model test paper 2|12 Videos

  • DEMAND AND ITS DETERMINANTS

    SANDEEP GARG|Exercise Model test paper 3|12 Videos

  • DEMAND AND ITS DETERMINANTS

    SANDEEP GARG|Exercise Model test paper 3|12 Videos

  • DEMAND

    SANDEEP GARG|Exercise Unsolved particles|4 Videos

  • ELASTICITY OF DEMAND

    SANDEEP GARG|Exercise Unsolved practicals|79 Videos

Similar Questions

Explore conceptually related problems

Harish earn Rs. 10 lakhs per year from his business. He gets an offer from a company to work at a salary of Rs.8,40,000 per year. Determine opportunity cost of Harish.

Give the meaning of opportunity cost.

Knowledge Check

  • PPC is concave when marginal opportunity cost

    A
    falls
    B
    remains constant
    C
    rises
    D
    all of these

  • If the marginal (additional) opportunity cost is a constant, PPC would be

    A
    Convex.
    B
    A straight line.
    C
    Backward bending.
    D
    Concave.

    • Similar Questions

    Explore conceptually related problems

    Explain, in brieef, the meaning of opportunity cost.

    Define Marginal Opportunity cost.

    Explain the meaning of opportunity cost with an example

    Explicit cost includes opportunity cost of resources owned and used by the firm's owners.

    Determine the marginaol opportunity cost from the following data:

    Computer marginal opportunity cost (MOC) from the following data:

    Home
    Profile