Any alternative we give up when we make a choice are called

Whatever choice is made, the alternative given up is the opportunity cost.

all the alternatives that we give up whenever we choose one course of action over another is called trade-offs

when the united states took over

the economic difference between the three colonial regions. shipbuilding, whaling, fishing, and trapping where also main factors to the economy. the southern regional colonies economy was based on sugarcane, rice, cotton, tobacco, and indigo.