Real cost is

JAMB Economics 2023 183 views
Source: JAMB · 2023

Real cost is

  1. Alternative commodities forgone ✓
  2. Cost of goods and services
  3. Amount of money spent on goods and services
  4. True cost
Explanation

Real cost is the sacrifice made in producing something. It is measured by the alternative commodities forgone, which is the same idea as opportunity cost.

Money cost is the amount of money spent on goods and services.

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