Quiz: Opportunity Cost in Business Decisions
AQA GCSE Business 8132
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Building on what you've learned about why businesses exist and spotting opportunities, let's test your knowledge of opportunity cost in business decisions!
What is the definition of opportunity cost?
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Opportunity cost is the benefit of the {{blank0}} best alternative that is forgone.
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Which of the following are examples of opportunity cost? (Select all that apply)
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Match the items on the left with their correct pairs on the right
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Why is opportunity cost important in business decisions?
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Match the items on the left with their correct pairs on the right
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A business owner has £500 to spend on either new stock or advertising. If they choose to spend it on advertising, what is the opportunity cost?
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Which of the following are opportunity costs of starting your own business? (Select all that apply)
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Opportunity cost in decision-making helps businesses allocate their {{blank0}} effectively.
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