Question

Pain, sacrifices and discomforts involved in the production of a commodity is known as ______.

Options

• real cost

• opportunity cost

• economic cost

• accounting cost

Answer 1

Pain, sacrifices and discomforts involved in the production of a commodity is known as real cost.

Explanation:

The suffering, sacrifices, and discomforts associated with producing a thing or service are referred to as the "real cost." These are the actual natural resources and human labour both physical and mental that are sacrificed during the production process. Thus, Pain, sacrifices, and discomforts = Real Cost