Which situation best describes an opportunity cost?

One current institution question and answer asked students to mention what they ponder is the most important important concern for a student to do in order for you to attain success. One that response stood out from the rest was practice. Successful people aren’t born successful; they become successful via hard work and persistence. This is how you can accomplish your goals. as follows some question and answer examples that you can certainly implement to develop your knowledge and gain insight that will guide you to preserve your school studies.

Question:

Which situation best describes an opportunity cost?A. A business that develops a new technology is able to make a
larger profit.
B. A person who buys a new laptop doesn’t have money to buy new
headphones.
C. A government increases taxes on all businesses operating in the
city
D. An employee who earns a college degree is given a pay raise.

Answer:

When a person buys a new laptop and doesn’t have money to buy new headphones is the best situation that describes the opportunity cost.

What is the opportunity cost?

The opportunity cost can be understood as the forgone cost of one thing against the completion of another thing. It is the amount or the cost that can be expenses over a single thing only.

In the given option only option B. shows that when a person buys new laptop that means the money of buying new headphones is considered as the opportunity cost.

Learn more about opportunity cost, here:

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From the answer and question examples above, hopefully, they might possibly guide the student handle the question they had been looking for and keep in mind of most things declared in the answer above. Then possibly will make some sharing in a group discussion and also learning with the classmate with regard to the topic, so another student also possess some enlightenment and still keeps up the school learning.

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