An Example of Opportunity Cost

question 37

Multiple Choice

An example of opportunity cost

• A)is sweets given up by a person who would never eat them even if he or she could.
• B)for a professor of economics is the pleasure that he or she derives from teaching economics.
• C)is the Chinese food that you gave up when you chose to eat Italian food.
• D)is the tuition you pay to attend college.
• E)is the price paid for a ticket when you go to the movies.

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Definitions:

Produced

Created, manufactured, or brought into existence through a process.

Akan Kente Cloth

A type of silk and cotton fabric made of interwoven cloth strips and is native to the Akan ethnic group of Ghana, known for its colorful patterns and symbolic meanings.

Production

The process of creating, manufacturing, or generating goods, services, or artistic works.

Royal Artworks

Art pieces created for or associated with royalty, often reflecting the power, wealth, or ideals of a monarchy.