The opportunity cost of an activity is the value of the best alternative that would have been chosen instead. It includes what would have been done with the money spent and the time and other resources used in undertaking the activity.
Standard detail
5.
Benchmark
Depth 1Parent ID: D146631313004ACF916D07D873275B16Standard set: Grades K, 1, 2, 3, 4
Original statement
Quick facts
- Statement code
- 5.
- List ID
- 5.
- Standard ID
- 37D02F41E3604EB3A14214176B7E32B0
- ASN identifier
- S2604651
- Subject
- Economics
- Grades
- 01, 02, 03, 04, K
- Ancestor IDs
- D146631313004ACF916D07D873275B16
- Source document
- Voluntary National Content Standards in Economics (2010)
- License
- CC BY 3.0 US