Opportunity cost is the

1)cost of the best alternative use of money, time, or resources when one choice is made rather than another
2)tools, equipment, and factories used in the production of goods and services
4)condition that arises when society does not have enough resources to produce all the things people want to own
4)combined goods and/or services that an economy can produce when all productive resources are fully employed

Option 1.

Explanation:

Option 1) cost of the best alternative use of money, time, or resources when one choice is made rather than another, is the correct answer.

This answer is right because opportunity cost refers to the cost of next best alternative which have forgone. For example, if a person has to forgive one kilogram of apple to buy 1 dozen of banana then the opportunity cost of buying 1 dozen banana is 1 kg apple. Thus the option one is correct answer. Type a message

answer; reincarnation of an eternal soul;