Opportunity costs arise from

Name: Opportunity costs arise from
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Opportunity costs always arise from choices. Whenever we make a choice, we have to give up something else, and that something else is the opportunity cost. For example, if we choose to spend our money on a vacation, the opportunity cost might be that we have to forego buying a new car. Similarly, if we choose to spend time watching TV, the opportunity cost might be that we can't spend that time studying or exercising.

Opportunity Costs Arise from