In economics, every decision carries a hidden trade-off. Paper 2, Question 2 typically tests this dynamic through the lens of , which is formally defined as the highest-valued option forgone when making a choice.
The opportunity cost of making a choice is the highest-valued option forgone . hkcee 2010 econ paper 2 q2
When answering this question, students should: In economics, every decision carries a hidden trade-off