Margo Spends $30,000 on One Year's College Tuition

question 57

Multiple Choice

Margo spends $30,000 on one year's college tuition.The opportunity cost of spending one year in college for Margo is:

• A)$30,000.
• B)whatever she would have purchased with the $30,000 instead.
• C)whatever she would have earned had she not been in college.
• D)whatever she would have purchased with the $30,000 plus whatever she would have earned had she not been in college.

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Definitions:

Morals

Principles or beliefs concerning what is right and wrong behavior, guiding individual conduct and decision-making.

Ethics

Moral principles that govern a person's behavior or the conducting of an activity.

Socializing Agents

Entities or individuals that play a significant role in the process of teaching norms, customs, and ideologies within a society.

Developmental Perspective

An approach focusing on how individuals change and grow throughout their lives both physically and psychologically.