Final answer:
Opportunity cost is not always expressed in dollars; it is the value of the next best alternative that is given up. It often includes non-monetary factors like time and personal satisfaction that are difficult to quantify in dollar terms.
Step-by-step explanation:
The opportunity cost of doing something is not necessarily expressed in dollar terms. Opportunity cost refers to the value of the next best alternative that is foregone when a decision is made. For instance, if you choose to spend an hour studying instead of working a job that pays $10 an hour, the opportunity cost of studying is not just $10 but also includes the personal satisfaction, experience, and other benefits you would have received from working.
While it can be helpful to quantify opportunity costs in monetary terms as it often provides a tangible measure of what's being sacrificed, many opportunity costs involve non-monetary factors such as time, leisure, personal growth, and other subjective benefits that are not easily converted to a dollar amount. Therefore, it's important to consider all factors to evaluate the true opportunity cost accurately.