Learn: Opportunity Cost in Business Decisions
AQA GCSE Business 8132
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What is opportunity cost?
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Opportunity cost is the value of the next best {{blank0}} that is given up when making a {{blank1}}.
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If a business has £3,000 to invest and the expected profit from Option A is £5,000 while from Option B it is £6,000, what is the opportunity cost of choosing Option A?
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Which of these statements about opportunity cost are true? (Select all that apply)
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