Which economic concept does the expression "time is money" reflect?
A)opportunity cost
B)specialization
C)market exchange
D)comparative advantage
E)efficiency

Question

Quizplus · Accepted Answer

The expression "time is money" reflects the concept of opportunity cost, which suggests that the value of a resource is measured by the opportunities it foregoes. In this case, time spent on one activity means less time available to earn money elsewhere, so time can be considered a cost equivalent to money.

Which Economic Concept Does the Expression "Time Is Money" Reflect