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The term "opportunity cost" in economics refers to:a)The actual cost of a good or serviceb)The cost of an economic decision in terms of the next best alternative foregonec)The monetary cost of producing a good or serviced)The cost of inputs used in the production processCorrect answer is option 'B'. Can you explain this answer? for SSC MTS / SSC GD 2025 is part of SSC MTS / SSC GD preparation. The Question and answers have been prepared according to the SSC MTS / SSC GD exam syllabus. Information about The term "opportunity cost" in economics refers to:a)The actual cost of a good or serviceb)The cost of an economic decision in terms of the next best alternative foregonec)The monetary cost of producing a good or serviced)The cost of inputs used in the production processCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for SSC MTS / SSC GD 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The term "opportunity cost" in economics refers to:a)The actual cost of a good or serviceb)The cost of an economic decision in terms of the next best alternative foregonec)The monetary cost of producing a good or serviced)The cost of inputs used in the production processCorrect answer is option 'B'. Can you explain this answer?.

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