Asked by
Kelvin Mutugi
on Nov 11, 2024Verified
The opportunity cost of choosing a particular activity:
A) can be easily and accurately calculated.
B) cannot be estimated.
C) does not change over time.
D) varies depending on time and circumstances.
E) is measured by the money spent on the activity.
Varies
Describes how something changes or differs across different situations, locations, or points in time.
Time
A continuum that lacks spatial dimensions and in which events occur in apparently irreversible succession from the past, through the present, into the future.
Circumstances
The conditions or facts affecting a particular event or situation, often influencing the outcome or actions of individuals.
- Identify the factors influencing opportunity cost and its relevance to decision-making.
Verified Answer
JW
Learning Objectives
- Identify the factors influencing opportunity cost and its relevance to decision-making.