where is the area you applied the concept of opportunity cost in schoool life?

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03-08-2021
Social Studies

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where is the area you applied the concept of opportunity cost in schoool life?

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ireenys3004 ireenys3004 · Answer 1 · 2021-08-03T06:13:21-04:00

Answer:

What are some other examples of opportunity cost?

A student spends three hours and $20 at the movies the night before an exam. The opportunity cost is time spent studying and that money to spend on something else.

A farmer chooses to plant wheat; the opportunity cost is planting a different crop, or an alternate use of the resources (land and farm equipment).

A commuter takes the train to work instead of driving. It takes 70 minutes on the train, while driving takes 40 minutes. The opportunity cost is an hour spent elsewhere each day.

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