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1.3 Opportunity cost

Unit 1.3 - Opportunity cost"The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it."- Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations (1776)Opportunity cost is the cost of the next best opportunity foregone when making a decision. This section of the Cambridge IGCSE Economics syllabus covers the following topics:

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