Jose has one evening in which to prepare for two exams and can employ one of two possible strategies: 
The opportunity cost of receiving a 92 on the statistics exam is __________ points on the economics exam.
Definitions:
Property Rights
The legal rights to possess, use, and dispose of assets including real estate, intellectual property, and personal possessions.
Economic System
A particular set of institutional arrangements and a coordinating mechanism for solving the economizing problem; a method of organizing an economy, of which the market system and the command system are the two general types.
Institutional Arrangements
The set of policies, norms, and regulations that shape the behavior of individuals and organizations within a society.
Economizing Problem
The choices necessitated because society’s economic wants for goods and services are unlimited but the resources available to satisfy these wants are limited (scarce).
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