Which of the Following Is an Example of Opportunity Cost

question 268

Multiple Choice

Which of the following is an example of opportunity cost not measured by money cost?

• A)The time spent eating a business lunch at a restaurant
• B)The time spent preparing a meal eaten at home
• C)The time spent studying to obtain an "A" in economics
• D)The time spent repairing a car in one's own garage
• E)All of the responses are correct.

---

Definitions:

Industrial Revolution

The period of significant industrial, technological, and social change in the late 18th and early 19th centuries, leading to the widespread use of machinery and the establishment of factory systems.

Modern Life

Refers to lifestyles and societies characterised by contemporary norms, technologies, and social structures, often contrasting with traditional ways of life.

Symbolic Interactionism

A sociological perspective focusing on the meanings that people impose on objects, events, and behaviors, and how these meanings develop through social interaction.

Social Institutions

Established systems of societal organization and governance that structure activities and relationships in culture.