O-LevelEconomicsThe basic economic problem2281/11 · May/June 2018 · Q11 Mark
The Norwegian government chose to spend the profits from oil on stocks, bonds and property. The possibility of improving domestic infrastructure, therefore, was not taken. Which economic concept does this best illustrate?
Acost of production
Bfinite resources
Copportunity cost
Dproduction possibility frontier
✓ Correct answer
C: opportunity cost
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