Question

1. the value of the next best alternative that was not chosen when a decision is made is called the

opportunity benefit
opportunity cost
shortage problem
scarcity

Explanation:

The question defines the value of the next best alternative not chosen when making a decision. This is a core economic concept known as opportunity cost. Opportunity benefit is not a standard term; shortage problem refers to insufficient supply; scarcity is the fundamental condition of limited resources relative to wants.

Answer:

B. opportunity cost