When one money management decision is selected, something else must be given up.

Name: When one money management decision is selected, something else must be given up.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is the basic concept of opportunity cost in economics. Every time we make a decision to spend or invest money, we are sacrificing the opportunity to use that money in another way. Therefore, choosing one option means giving up another option.

When One Money Management Decision Is Selected, Something Else Must