Which of the following has the largest impact on opportunity cost?

Which of the following has the largest impact on opportunity cost?

A. Consumer wants.
B. Limited resources
C. Tight deadlines
D. Consumer needs

Ans. B. Limited resources.

Opportunity cost is what you have to give up when you pick one option over another. This is due to scarcity, which occurs because we have limited resources but numerous wants. When resources such as time, money, or materials are limited, deciding to produce or purchase one thing means you have to forgo the possibility of producing or purchasing something else. For example, a company that has a limited amount of money that decides to use money to produce a new product cannot use the money to advertise an existing product. If resources were unlimited, there would be no opportunity cost because there would be no need of having to pick between alternatives. Even though what consumers want, need, and their deadlines may influence decisions, these are only important because resources are limited.

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