What is the opportunity cost principle?

Question

Economics · Economics

Verified Solution4 OptionsUpdated: October 2026👁️1 View

Share:

Correct answer

The loss of potential gain from other alternatives when one alternative is chosen.

Save this question and verified answer as a clean study sheet with live clickable link.

👥

Challenge your peer aspirants on WhatsApp or Telegram to solve this question!

Online Test Series

Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.

Chapter Practice

Want more practice questions on Economics?

Solve complete topic-wise tests with detailed solutions on GkGet.

Recommended practice questions in Economics · Economics

The Dandi March, also known as the Salt Satyagraha, was led by which influential leader?

Which act formally granted independence to India, marking the end of British rule?

Who was the key figure in establishing the Indian National Congress?

Answer 1

Producing at minimum cost.

Answer 2

Maximizing profit.

Answer 3

The cost of all goods produced.

Answer 4

The loss of potential gain from other alternatives when one alternative is chosen.

Related Practice Questions