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In Business / College | 2025-07-04

When studying finance or economics, the cost of a decision is also known as a(n)
A. personal cost.
B. financial cost.
C. long-term cost.
D. opportunity cost.

Asked by baylorvick432

Answer (1)

The cost of a decision in finance and economics is known as opportunity cost , which refers to the value of the next best alternative that is sacrificed. This concept is important for making informed choices in personal finance and business. Examples illustrate how opportunity cost can impact both personal and corporate decision-making. ;

Answered by GinnyAnswer | 2025-07-04

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