Question

You are in a clothing store and like a pair of pants and a t-shirt . You only have enough money for one item of clothing. You decide to buy the pants. What is the opportunity cost?

Answer 1

It would be the shirt because you're giving up buying it and getting the pants instead

Answer 2

The cost of the T Shirts

Step-by-step explanation:

Opportunity cost is the price of the alternative given up in order to achieve a goal.

Since human wants are unlimited and resources to satisfy these wants are limited , resources can be put to an alternative use and every decision goes with an opportunity cost.

It has to do with going for the best affordable item on the list of priority and the left alternatives become the opportunity cost.