Final answer:
Opportunity costs are present in all given situations: whether catching up with a friend, relaxing, cooking, reading, eating out, or working, each choice involves giving up an alternative activity that could have possibly been more beneficial.
Step-by-step explanation:
The question is about understanding the concept of opportunity cost in the context of individual decision-making. Simply put, opportunity cost is the value of the next best alternative that you give up when you make a decision to do something. Let's examine each stated activity to determine if it has an opportunity cost:
In essence, all listed activities have opportunity costs because while engaging in one activity, you are giving up the chance to do something else that could have been more valuable or rewarding.