When We Choose a Particular Option, We Must Give Up

question 434

Multiple Choice

When we choose a particular option, we must give up alternative options. The highest-valued alternative forgone is the ________ of the option chosen.

• A) opportunity cost
• B) comparative advantage
• C) nonmonetary cost
• D) absolute advantage

---

Definitions:

Individual's Psychology

A psychological perspective focusing on the unique experiences and motivations of an individual, often associated with Alfred Adler.

Royal Road

A metaphorical expression indicating a direct and effortless path to achieving a difficult task or understanding complex concepts.

Unconscious

In psychodynamic theory, descriptive of ideas and feelings that are not available to awareness; also: without consciousness.

Irrational Beliefs

Illogical or unreasonable thoughts and assumptions that can lead to emotional distress and behavioral issues.