Answered

At Westonci.ca, we connect you with the best answers from a community of experienced and knowledgeable individuals. Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Blake chose to go to college instead of starting a full-time career after high school. he sacrificed four years of wages while obtaining his degree. what is the term used to identify the cost of his choice?

Sagot :

jaquelinefvr

The term opportunity cost is used to designate the cost of Blake's choice.

What is opportunity cost?

It is an economic term to represent a value placed on an opportunity given up when a choice is made. That is, opportunity cost represents the value of one choice over another.

So Blake's choice to go to college rather than start a full-time career after high school comes with an opportunity cost.

Find out more about opportunity cost here:

https://brainly.com/question/1549591

#SPJ1

Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.