Which of the Following Statements Is True Regarding the Opportunity

question 32

Multiple Choice

Which of the following statements is true regarding the opportunity cost of time?

• A)Retired people are more likely to visit supermarkets than farmers' markets.
• B)Students are more likely to visit farmers' markets even during exams.
• C)Working professionals are more likely to frequent convenience stores.
• D)The opportunity cost of time for farmers and buyers participating in the farmers' market is usually very high.

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Definitions:

Enrolment Rate

The percentage of individuals who are registered or enrolled in an educational institution relative to the eligible population.

Industrial Countries

Nations with highly developed industries and infrastructure, often characterized by significant levels of manufacturing, services, and technology sectors.

Developing Countries

Nations with lower levels of industrialization, lower living standards, and often lower Human Development Index (HDI) scores compared to developed countries.

Standard Of Living

The level of wealth, comfort, material goods, and necessities available to a person, group, or society.