asked 196k views
3 votes
Which of the following refers to the value of something we give up to obtain something​ else? A. Objectives B. Price C. Cryptocurrency D. Opportunity cost E. Bartering

1 Answer

5 votes

Answer: Opportunity cost

Step-by-step explanation:

Opportunity cost could be seen as forgoing an item or a plan for that which has better priority when they both have same or similar values or cost, and this would be based on individuals decision and not a fixed standard. An example would be buying a house over a car, the individual at this point may be tired of paying rent and decided to buy a house which at this point could be the same cost with the car but for the sake of opportunity cost he chooses the house over the car.

answered
User Galkin
by
8.4k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.