What does "opportunity cost" mean?
✓ Correct Answer: Option B
Opportunity cost is what you give up when you choose one option over another — the value of the next best alternative.
📚 About This IB Exam Prep Practice Question
This 1-level IB Exam Prep question from the Economics topic is part of BrainForge Quiz's free exam preparation library. Each question includes the correct answer and a detailed explanation to help you understand the underlying concept, not just memorize the answer.
How to use this page: Read the question above, consider all four options (A through D), then check the highlighted correct answer and explanation. For active timed practice, start a free IB Exam Prep practice test or use flashcards for spaced repetition review.