Final answer:
Opportunity cost is the value of the best alternative forgone when making a choice, closely connected to trade-offs.
Explanation:
Opportunity cost is a fundamental concept in economics that refers to the value of the best alternative forgone when making a choice. It represents what must be sacrificed to pursue a certain option. Trade-offs are decisions where one benefit is given up to obtain another, closely related to opportunity costs.
Learn more about Opportunity cost in economics here:
https://brainly.com/question/33630246
