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    Opportunity cost jesshurley

    Explain the concept of Opportunity Cost. Why is this concept central to the study of economics?

    I know that opportunity cost is the cost of foregone alternatives.. but how do I answer the second part does anyone know?

    Thank you :)

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      Economics is a social science that studies aspects of human behaviour. It studies how consumers have a limited income and how they must use this limited income to fulfil their unlimited wants.

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      Thank you :)

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      Great leaving cert notes

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