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The loss of the highest-valued alternative defines the concept of ( ) entrepreneurship ( )marginal benefit....

The loss of the highest-valued alternative defines the concept of

( ) entrepreneurship

( )marginal benefit.

( )scarcity.

( )opportunity cost

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Answer #1

The loss of the highest - valued alternative defines the concept of opportunity cost.  

Opportunity cost is basically defined as the benefit that a person could have get, but he gave it up while going for an alternate option or course of action.

For Eg:- during tests a student can either sit and study or he can go to movie theatre to watch the new film, but the student choose to study and got good marks, in this situation the opportunity cost is the pleasure and the satisfaction of watching the new film.

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