Question

social science academic (part b) pva (acc.ed) (fa25) - activities
module 1 exam
social science academic (part b) pva (acc.ed) (fa25) / module 1: basic economic concepts

1. economist feel the best way to evaluate the cost of a decision is to consider every possible alternative choice.

true
false

Explanation:

Economists use opportunity cost, which is the value of the next best alternative, not every possible alternative. Considering every alternative is impractical and not the standard method.

Answer:

False