Question

An example of opportunity cost

Answer 1

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)

Answer 2

If you spent money on going out to a restaurant to eat, you might not be able to spend it on something else.