Spending money on a fixed budget is an example of
A) the principle of opportunity cost.
B) how to survive with unlimited financial resources.
C) a bad thing to do because you run out of money.
D) living on the edge.

Question

Quizplus · Accepted Answer

Spending money on a fixed budget requires making choices based on the principle of opportunity cost, where you consider the benefits of all possible options and choose the one that provides the highest value for your money. This is important for making the most out of a limited budget and maximizing the utility of available resources.

Spending Money on a Fixed Budget Is an Example of