When the government hires people to serve in the army, these people are no longer available to do other work. This choice illustrates the concept of

Question

Quizplus · Accepted Answer

The concept of opportunity cost states that choosing one option means giving up the benefits of another option. When the government hires people for the army, those individuals are no longer available to work in other industries or pursue other professions, which represents the opportunity cost for that individual. Therefore, the scenario represents the concept of opportunity cost.

When the Government Hires People to Serve in the Army