Opportunity cost is what we didn't get because of our decision.

What is the Opportunity cost to the following? (2 per question)

Ex. Keeping money in a dresser drawer: Loss of interest at a bank, No cash available to buy stuff

Going to college:
Making the basketball team:
Going to college:
Working two jobs:
Watching TV after school:
Leasing a new car:
Selling a family heirloom:
Spending $250 on a game system:
Buying a $5,000 used car:

Please help! Thank you!

If you spend $250 on a game system you could be missing going out with friends for a night out as you lack the money. Therefore you are lacking social relationship

2) Buying a $5000 used car

If you bought a used car, you could be missing out on social events or being able to go out for dinner. Or even having to spend less on shopping or something along them lines.

(Enjoy)

andromache andromache · Answer 2 · 2022-01-18T12:16:14+01:00

The opportunity cost is as follows:

1) Spending $250 on a game system.

In the case when you spend $250 on a game system you could be missing going out with friends for a night out as you lack the money. Therefore here you are lacking social relationship

2) Buying a $5000 used car

In the case when you purchased a used car, you could be missing out on social events or being able to go out for dinner.

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