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QA › Economics › Which of the following has the largest impact on opportunity cost?

Which of the following has the largest impact on opportunity cost?

A. consumer wants

B. tight deadlines

C. limited resources

D. consumer needs

Answer: C. limited resources

Giving up something in order to do something else is what opportunity cost entails. In other words, it is the value of the road not taken. Limited resources have the largest impact on opportunity cost because fewer resources mean scarcity and scarcity of resources tends to cause firms to make certain choices resulting in opportunity cost. In cases of limited resources, corporations tend to consider other opportunity costs. A good example can be seen in a soft drink manufacturing company. During scarcity of aluminum, they may result in making more plastic and glass containers rather than aluminum tins.

Economics

3 years ago

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