Question

You have just received a birthday present of $30. There are two ways you might spend this money. You choose to buy two new CDs instead of taking your friends out to lunch. Your choice not to take your friends out in known in economics as a(n) *

A.opportunity cost
B.capital resource
C.variable cost
D.revenue

Answer 1

A

Step-by-step explanation:

An opportunity cost is a cost made when you chose the alternative option which leaves you with a loss of money.

Ex; Buying a new toy instead of waiting it to lose popularity and become cheaper.

Answer 2

A
Is the answer I think