What Is the Opportunity Cost of an Item

question 68

Multiple Choice

What is the opportunity cost of an item?

• A)the number of hours needed to earn money to buy it
• B)what you give up to get that item
• C)usually more than the dollar value of the item
• D)usually less than the dollar value of the item

---

Definitions:

Risky Shift

A phenomenon where groups tend to make riskier decisions than individuals would on their own, often due to diffused responsibility and group dynamics.

Not Me Syndrome

The tendency of individuals to deny their own negative traits and behaviors while easily recognizing them in others.

Zimbardo

Philip Zimbardo is a psychologist known for conducting the Stanford prison experiment, which explored the effects of perceived power and authority on behavior.

Alienation

The feeling of being isolated and estranged from others, society, or oneself, often discussed in social, economic, and psychological contexts.