The next best alternative given up when making a choice is called the a. opportunity cost b. comparative advantage c. primary objective d. negative consequence

The next best alternative given up when making a choice is called the "opportunity cost".

Opportunity costs represent the advantages an individual, financial specialist or business passes up while picking one option over another. While budgetary reports don't indicate opportunity cost, entrepreneurs can utilize it to settle on instructed choices when they have numerous alternatives previously them. Since they are concealed by definition, opportunity costs can be ignored in the event that one isn't cautious. By understanding the potential botched chances one swears off by picking one speculation over another, better choices can be made.  

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