Final answer:
Opportunity cost refers to the value of the foregone alternative when a choice is made. If a scenario allows for multiple activities to be pursued without the need for a trade-off, then there is no opportunity cost involved.
Step-by-step explanation:
Opportunity cost is defined as the loss of potential gain from other alternatives when one alternative is chosen. It is a concept in economics that refers to the value of the next-highest-valued alternative use of that resource.
An example of something that is NOT an opportunity cost would be a scenario where a choice does not have to be made between alternatives. For instance, if a person has ample time to both attend program activities and carry on with their career without one impeding the other, and they choose to do both, then there is no opportunity cost associated with this decision because it does not involve a trade-off.