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1.3.1 Definition of opportunity cost

Unit 1.3.1 - Definition of opportunity costIn this section of the Cambridge IGCSE Economics (0455) syllabus, students need to be able to define opportunity cost and provide examples of opportunity cost in different contexts."Economics brings into view that conflict of choice which is one of the permanent characteristics of human existence."- Lionel Robbins, The Economics Book: Big Ideas Simply Explained (p.133)

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