Question

One method for studying opportunity cost is to think in terms of

Answer 1

In short: Opportunity cost is a foregone benefit with a choice. Still from this perspective of economics and business, other real examples would be the decisions between investment or personal expense. When one chooses to make a leisure trip, one is willing to invest that money), when one chooses to invest, one gives up the trip. Leaving from the individual perspective and passing to the social, we must think of the opportunity cost as the choice of the allocation of available resources .

Answer 2

Answer:

C — tradeoffs

Explanation:

A trade-off is a balance achieved between two desirable but incompatible features; a compromise. You are giving up something to achieve something else.

Think of it as being the cost (price) to achieve an opportunity (want).