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Cambridge IGCSE Economics practice

What does opportunity cost refer to?

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MCQ

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cambridge_mcq

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Topic

Opportunity cost

Exam-style question

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What does opportunity cost refer to?.

  1. A.The total cost of a decision
  2. B.The benefit of the next best alternative
  3. C.The cost of production
  4. D.The price of goods

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Paper 2 structured question: Opportunity cost

Paper 2Structured Questions1 marks

Description

Opportunity Cost Scenario

The student must decide between purchasing a laptop for school or using the money for a vacation. If the student chooses the laptop, they will miss out on the vacation experience.

  1. a

    State the opportunity cost of buying the laptop.

    Aim for approximately 1 distinct marking point.

    [1]