Question

use the drop - down arrow to choose the correct word to complete the sentence.
the concept of refers to the value of the next best alternative given up when making a choice.

Explanation:

The problem is about a key concept in Economics (a subfield of Business) where opportunity cost is defined as the value of the next - best alternative forgone when a choice is made. So the correct word to fill in the blank is "opportunity cost".

Answer:

opportunity cost