Which of the following statements is true regarding the opportunity cost of time?
A)Retired people are more likely to visit supermarkets than farmers' markets.
B)Students are more likely to visit farmers' markets even during exams.
C)Working professionals are more likely to frequent convenience stores.
D)The opportunity cost of time for farmers and buyers participating in the farmers' market is usually very high.

Question

Quizplus · Accepted Answer

Working professionals often have less free time due to their job commitments, making convenience stores a more attractive option due to their accessibility and time-saving nature. This reflects the concept of opportunity cost of time, where the value of time spent on one activity is measured by the value of the best alternative activity that could have been done instead.

Which of the Following Statements Is True Regarding the Opportunity