Bonnie has enough money to either buy a used car or to pay for an international marketing class that will spend three weeks visiting companies in Europe.She needs the car to get to work and to class.However,she is planning on a career in international marketing,and the trip would allow her to start networking.She will incur whether she buys the car or takes the class.

Question

Quizplus · Accepted Answer

Opportunity costs refer to the potential benefits or value that one misses out on when choosing one alternative over another. In Bonnie's case, choosing between the car and the class involves opportunity costs, as she must forego the benefits of the option she does not choose.

Bonnie Has Enough Money to Either Buy a Used Car