Consider your decision to attend class each day or skip it. Which of the four core principles of economics applies to the notion that by attending class you are not doing the next best activity you would prefer to do, such as napping or going to the gym?
A)Cost-benefit principle
B)Opportunity cost principle
C)Marginal principle
D)Interdependence principle

Question

Quizplus · Accepted Answer

The opportunity cost principle applies to the notion that by attending class, you are forgoing the opportunity to do something else you might prefer, such as napping or going to the gym. The opportunity cost of attending class is the value of the next best alternative foregone.

Consider Your Decision to Attend Class Each Day or Skip