gracemoriarty1523 gracemoriarty1523
  • 22-07-2020
  • Business
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The potential benefits lost by taking a specific action when two or more alternative choices are available is known as a(n):

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ogorwyne
ogorwyne ogorwyne
  • 24-07-2020

Answer:

Opportunity costs

Explanation:

The potential benefits lost by taking a specific action when two or more alternative choices are available is known as opportunity costs.

Opportunity cost has to do with losing other alternatives by chosing to go with one alternative. Hence it is also called foregone alternative. It has to do with making a decision or choice to give up something in order to get something else which may be of more value.

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