Quiz: Opportunity Cost in Business Decisions
AQA GCSE Business 8132
Ready to start this lesson?
Sign in to track your progress. 11 steps including 9 interactive questions.
Sign In to Start Learning
Students also studied
Browse allSteps in this lesson (11)
Building on what you've learned about why businesses exist and their activities, let's explore your understanding of opportunity cost in decision-making!
What does opportunity cost mean in business?
Start the lesson to answer this multiple choice question
Which of the following are examples of opportunity cost? (Select all that apply)
Start the lesson to answer this multi-select question
Opportunity cost is the {{blank0}} of the next best {{blank1}} forgone.
Start the lesson to answer this fill in the blank question
Match the items on the left with their correct pairs on the right
Start the lesson to answer this matching question
Match the items on the left with their correct pairs on the right
Start the lesson to answer this math equation question
A business decides to dedicate its last available factory floor to producing toys instead of furniture. What is the opportunity cost?
Start the lesson to answer this multiple choice question
Which of these scenarios involve opportunity cost? (Select all that apply)
Start the lesson to answer this multi-select question
Match the items on the left with their correct pairs on the right
A business has £100,000 and chooses to spend it on new equipment. The opportunity cost could be the {{blank0}} it might have earned from investing in marketing.
Start the lesson to answer this fill in the blank question
A company allocates resources to develop Product A instead of Product B. What is the opportunity cost?
Start the lesson to answer this multiple choice question
Want to Learn More?
Get personalised lessons, quizzes, and instant feedback from your AI tutor.
Explore More Topics