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AP Macroeconomics
Unit 1 – Basic Economic Concepts
Topic 1.1
Opportunity cost is best defined as:
The value of the next best alternative given up when making a choice.
The total cost of producing a good or service.
The profit earned from producing a good or service.
The monetary price of a good or service.
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AP Macroeconomics - 1.1 Scarcity
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Opportunity cost
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About Fiveable
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CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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