Comparison shopping can save you money and improve the quality of your purchases but uses up something of value you cannot replace: your time is an example of a(n):
A)Opportunity cost
B)Cash flow management
C)Spending habits
D)Savings plan

Question

Quizplus · Accepted Answer

The term "opportunity cost" refers to the cost of any activity measured in terms of the value of the next best alternative that must be forgone. In this case, the opportunity cost of comparison shopping is the time you spend doing it, which could be used for other activities. While comparison shopping can save you money and improve the quality of your purchases, it does require an investment of time, which is a limited and non-renewable resource. Therefore, understanding the concept of opportunity cost is important in making informed decisions about how to allocate your time and resources.

Comparison Shopping Can Save You Money and Improve the Quality