The Opportunity Cost of a Purchase Is

question 42

Multiple Choice

The opportunity cost of a purchase is

• A) zero if the item is what someone wants most.
• B) always equal to the selling price of what someone purchased.
• C) always greater for people who are out of work than for people who are working.
• D) the alternative good or service that one sacrifices because a different good was purchased.
• E) the lowest possible price.

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Definitions:

Representative

An individual elected to act and speak on behalf of others, typically in a legislative body.

Demographic Traits

Characteristics used to describe and categorize populations, such as age, gender, ethnicity, and income.

Literary Digest

A general interest magazine published in the United States in the early 20th century, known for its polls, including the famously erroneous prediction of the 1936 presidential election.

Random Sample

A selection method where participants are chosen from a larger population in a way that each individual has an equal chance of being included.