Cryptocurrency Q&A
Which situation is the best example of opportunity cost?
Which situation is the best example of opportunity cost?
CryptoLord
Sun Jan 12 2025
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6 answers
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I'm trying to understand the concept of opportunity cost and I want to know which situation best illustrates this economic principle.
6 answers
Raffaele
Tue Jan 14 2025
By choosing public transit, individuals forego the convenience and comfort of traveling in their own vehicle.
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HanbokGlamourQueen
Tue Jan 14 2025
This decision leads to a significant financial benefit, as the money that would be spent on fuel is saved.
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Bianca
Tue Jan 14 2025
The concept of opportunity cost can be illustrated through various scenarios in daily life.
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CherryBlossomKiss
Tue Jan 14 2025
The saved amount represents the opportunity cost associated with not using the car.
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ChristopherWilson
Tue Jan 14 2025
One such example is opting for public transportation instead of using a personal car to travel to a specific destination.
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