CUET Economics PYQs

Which statement is not true for Adam Smith?

In the course of production, exchange and consumption of goods and services, every society has to face a scarcity of resources; and it is the scarcity of resources that gives rise to the problem of .............

An economy has to choose one of the many possibilities that it has at given resources. Therefore, the cost that an additional unit of X commodity in terms of the amount of the Y commodity that has to be forgone is called ................ cost.