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1.3. Opportunity cost

Syllabus
0455–2027–2028
Topic
1.3
Level
—

1.3.1—Opportunity cost

  • definition of opportunity cost
  • examples of opportunity cost in different contexts

1.3.2—The influence of opportunity cost on decision-making

  • decisions made by consumers, workers, producers/firms and governments when allocating their resources

Objective notes

2 learning objectives
ConceptIGCSE Economics