What does opportunity cost refer to...? Mcqs

PPSC Past Papers

💡 English word par Double-Click karein: Urdu meaning + pronunciation 🔊

What does opportunity cost refer to...?

(A) The cost of purchasing an item

(B) Giving up the opportunity to choose the next best alternative

(C) The amount of money spent on a product

(D) The cost of producing a good or service

✅ Correct Answer: Giving up the opportunity to choose the next best alternative

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Source: This question is taken from the PMS General Knowledge PPSC Past Paper 2024

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