If you choose to spend your Saturday working at a part-time job instead of attending a concert, what is the opportunity cost of your decision?

Opportunity cost is what you give up when you make a choice. In this case, if you decide to work at your part-time job instead of going to the concert, the opportunity cost is the enjoyment and experience you miss out on by not attending the concert. This might include having fun with friends, hearing your favorite band live, or simply enjoying a night out. For example, if the concert ticket costs $50 and you would have had a great time, the money you earn from working may not fully replace that experience. So, the opportunity cost is both the money you could have spent and the joy you missed by choosing to work instead.