If a farmer chooses wheat instead of barley, what is the opportunity cost?

Type: MCQ • Marks: 1

A. The price of wheat

B. The cost of the tractor only

C. The benefit that could have been obtained from barley

D. The farmer's land

Explanation

Explanation: The forgone benefit from the next best alternative, barley, is the opportunity cost.

Want to attempt the full test series with a timer and instant score? Purchase the package to unlock the complete test. Purchase Now

Class 9th Understanding Society India and Beyond, Part I

This page is indexed for search so students can find questions directly from Google.

Welcome to TutorWale!