explain how opportunity cost is raised by human wants??佢想問d咩
- DannyLv 61 decade agoFavorite Answer
Cost is the highest-valued option forgone, that is, cost exists when not all options can be taken and some options are sacrificed for the others. Due to scarcity, resources are not enough relative to our unlimited wants even in a one-man economy and one has to make choice on what want to satisfy and what to give up. So sacrifice occurs and opportunity cost exists.