Making
an
economic
choice
creates
a
____________________
because
alternatives
must
be
given
up
,
which
results
in
the
loss
of
benefit
that
the
____________________
would
have
provided
.
For
example
,
if
an
individual
has
£10
to
spend
,
and
if
books
are
$10
and
a
CD
is
$10
,
buying
a
book
means
the
loss
of
the
____________________
that
would
have
been
gained
from
the
CD
.
Similarly
,
land
and
other
resources
,
which
have
been
used
to
build
a
new
school
could
have
been
used
to
build
a
new
factory
.
The
loss
of
the
next
best
____________________
represents
the
____________________
sacrifice
and
is
referred
to
as
____________________
cost
.
The
opportunity
cost
of
choosing
the
school
is
the
____________________
of
the
factory
,
and
what
could
have
been
produced
.
