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Model Paper 3 — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsModel Paper 31 Mark
MCQ
opportunity cost is the
  • A
    Next best alternative produced
  • B
    Next best alternative available
  • C
    Next best alternative chosen
  • ✓
    Next best alternative sacrificed
✓

Answer

Correct option: D.
Next best alternative sacrificed
(d) Next best alternative sacrificed
Explanation: For eg. if you are working in a restaurant at a salary of Rs. 50,000. and you receive an offer to work for a news channel which will pay you Rs. 30,000 and another offer to work in a administrative office which will offer you 40,000 Rs.
In this case the opportunity cost of working in the restaurant is the cost of the next best alternative foregone, which is the offer of Rs. 40,000 for working in a office.

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