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You decide to forgo partying for two hours to study for an upcoming economics exam. In your first semester's Principles of Economics class, you learn that the enjoyment you would have received from partying is an example of a(n) _______

User Shytikov
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Answer: Opportunity cost

Step-by-step explanation:

The opportunity cost is basically refers to the value, benefits and the profit that are acquired to achieve the various types of benefits in an organization.

It is also known as the alternative cost that is specifically used to achieve the basic relation between the choice and the scarcity.

According to the given example, the principle of the economics class is basically refers to the opportunity cost as it basically does not involve the types of market transaction.

Therefore, Opportunity cost is the correct answer.

User Meeran Tariq
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