Final answer:
An economist would disagree with the statement as it simplifies the concept of opportunity cost, which actually involves evaluating the value of the next best alternative—not merely an absence of better options.
Step-by-step explanation:
An economist would not fully agree with the statement "According to the idea of opportunity cost, people always do what they do because they have nothing better to do." While it simplifies the concept, it does not accurately capture the essence of opportunity costs in decision-making.
Opportunity cost involves considering the value of the next best alternative that must be given up to pursue a certain action. For example, if Alphonso decides to purchase a burger, his opportunity cost is the four bus tickets he could have bought instead. The decision rests on whether the satisfaction obtained from the burger outweighs the benefits of the bus tickets.
This concept clarifies that choices are made not because there is 'nothing better to do,' but because the chosen option is valued more than the alternative at that moment. Opportunity cost underscores the tradeoffs that are inherent in every decision. It articulates the constant process of evaluation and choice that individuals and businesses undergo when allocating their limited resources, be it time, money, or other assets. Hence, opportunity costs are intrinsic in all aspects of life, influencing decisions large and small.