Explain why opportunity cost is important in our day-to-day life.

      

Explain why opportunity cost is important in our day-to-day life.

  

Answers


Joseph
1. opportunity cost helps us to make a choice on a product depending on priority.
2. it helps in decision making since in economics there are scarce resources
3.it helps to compare relative prices and the benefits of each alternative
4.it helps to make consideration and know the value of the best forgone item
Erwoti answered the question on August 7, 2019 at 11:08


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