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Miguel choose to save for a car instead of traveling around Europe with friends. Though he was sad to miss the trip, he knew it was necessary if he wanted the car. What does this scenario BEST demonstrate?
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Miguel choose to save for a car instead of traveling around Europe with friends. Though he was sad to miss the trip, he knew it was necessary if he wanted the car. What does this scenario BEST demonstrate?

A.
opportunity cost

B.
inflation

C.
passive income

D.
personal risks

User Ofir Luzon
by
3.1k points

2 Answers

5 votes

Answer:

opportunity cost

Step-by-step explanation:

User NicBright
by
3.7k points
5 votes

Answer:

A. opportunity cost

Step-by-step explanation:

Opportunity cost is the foregone benefit as a result of not choosing a particular option. It is the forfeited advantage in the decisions making process.

Miguel forfeited visiting Europe save for a car. He sacrificed the satisfaction of visiting Europe to buy the car. The sacrificed joy is the opportunity cost.

User Wapac
by
3.5k points
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