THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Olivia normally works after school on Mondays and Wednesdays. Which is her opportunity cost is she adds Tuesdays and Thursday afternoons to her work schedule?
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The extra money she could earn.
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The additional hours she spends at her job.
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The time she could spend studying.
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The new clothes she could buy.
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Explanation:
Detailed explanation-1: -The correct answer is b. Benefits foregone by not choosing an alternative course of action. Opportunity cost is the future income or cost that would have been earned or incurred if this alternative was chosen. If not chosen, this would be the given up income or savings of that alternative.
Detailed explanation-2: -Capital goods are the physical things a company uses to create finished products. Tools, vehicles, and machines can all be capital goods. Some examples are: A bulldozer or dump truck that’s used in construction projects.
There is 1 question to complete.