Question 8 (10 points) What were Spartan youth expected to do to guard against a

share food with each other

Alternative costs can best be described as giving up an opportunity to do something else when making an economic decision

Option B

Explanation:

Alternative cost is an economic term that refers to the value of a good / service otherwise specified. In other words, it means that one person loses the opportunity to choose an ''alternative'' to another product / service.

The formula and calculation of the opportunity cost is FO-CO (FO: return of the best alternative and CO option). This is a guide to more cost-effective decision making and must have access to the relative risk of each option relative to its ''potential return''.