ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An unwillingness to give up something now in return for something later.
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Agony
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Delayed Gratification
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Instant Gratification
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None of the above
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Explanation:
Detailed explanation-1: -Today, the word sacrifice is used when referring to giving up something in the short term to gain something better in the long term. It’s giving up something of a lower value to receive something of a higher value. The sacrifices a person makes reveals their commitment to the result they want.
Detailed explanation-2: -Opportunity cost refers to what you have to give up to buy what you want in terms of other goods or services. When economists use the word “cost, ” we usually mean opportunity cost.
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