Which of the Following Is an Example of Opportunity Cost

question 79

Multiple Choice

Which of the following is an example of opportunity cost?

• A)renting an apartment near school
• B)saving money instead of taking a vacation
• C)setting aside money for paying income tax
• D)purchasing automobile insurance
• E)using a personal computer for financial planning

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Definitions:

Integrated

Integrated refers to systems, processes, or organizations that are coordinated and combined in a unified manner, ensuring seamless operation and efficiency.

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.

Human Resources

The department within an organization that handles recruitment, management, and direction for the people who work in the organization.

Tangible Assets

Physical and material assets owned by a business, such as machinery, buildings, and land, that have a quantifiable market value.