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Opportunity Cost

Exam code: 2281
2 hours · 24 questions
11 mark

The Norwegian government chose to spend the profits from oil on stocks, bonds and property. The possibility of improving domestic infrastructure, therefore, was not taken.

Which economic concept does this best illustrate?

  • A.

    cost of production

  • B.

    finite resources

  • C.

    opportunity cost

  • D.

    production possibility frontier

Choose your answer
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