ECONOMICS
OPPORTUNITY COST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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David has been shopping for a different vehicle for the past several months. He needs something reliable and would really like something with a nice sound system. He and his parents hae talked about how much he can afford and he plans to stay within the price guidelines he and his family have set. David was analyzing the opportunity cost of a trade-off regarding which car to purchase. Which situation best represents what he might be thinking through?
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David is comparing new vehicles at two car dealerships. He was able to find nearly identical cars at nearly identical prices. One dealership is 20 miles away and the other dealership is 30 miles away.
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At a local dealership, David has found two different cars that meet his needs. The first car has a better sound system than the other. The second car has 20, 000 fewer miles on it.
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David has been shopping for a vehicle online. He finds something that would meet his needs being sold by an individual near him. He would be able to purchase this car for less than he would have paid for a comparable vehicle at a car dealership.
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David’s older brother is trading vehicles and offers to sell Jake his used vehicle. This vehicle would meet Ian’s needs and he knows the service of the vehicle is excellent.
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Explanation:
Detailed explanation-1: -Jaime is creating a budget for the first time and doesn’t know which to use NET PAY or GROSS PAY. What do you tell him? Use net pay, it’s the total you’ve earned minus taxes and deductions.
Detailed explanation-2: -Some students’ comments were based on fact while others were based on myths. Which aspect of security at a depository institution is NOT TRUE? Depository institutions have insurance protection.
There is 1 question to complete.