Asked by Danilo Seglio on Jul 30, 2024
Verified
Assume that Spain will specialize in either cars or TVs.What is their opportunity cost of producing one car?
Opportunity Cost
The economic consequence of overlooking the subsequent best option when decisions are made.
Car
A wheeled motor vehicle used for transportation, typically powered by an internal combustion engine or electric motor.
- Ascertain the opportunity cost linked to the manufacture of different items in a specialization situation.
Verified Answer
TD
Learning Objectives
- Ascertain the opportunity cost linked to the manufacture of different items in a specialization situation.