Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
The value of the car you purchased
B
The potential income you could have earned from better job opportunities due to education
C
The money spent on the car
D
The time spent researching car options
Understanding the Answer
Let's break down why this is correct
Answer
Opportunity cost is what you give up when you make a choice. If you decide to spend your savings on a new car instead of investing in your education, the opportunity cost is the benefits you could have gained from that education. For example, by investing in education, you might gain new skills that lead to a better job and higher income in the future. This means that while the car gives you immediate transportation, the education could provide long-term financial stability and personal growth. Understanding opportunity cost helps you make better choices about how to use your resources wisely.
Detailed Explanation
The opportunity cost is what you give up when you make a choice. Other options are incorrect because Some might think the car's value is the cost; People may confuse the money spent as the cost.
Key Concepts
opportunity cost
Topic
Resource Allocation and Scarcity
Difficulty
easy level question
Cognitive Level
understand
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