Opportunity Cost

__________ is the value of what you give up when you make a choice.

• Supply

• Opportunity Cost

• Scarcity

• Demand

According to the example in the article, if you buy the book, what is the opportunity cost?

• the movie

• the time

• the money

• new shoes

When facing a purchasing decision, which of the following is a good thing to do?

• purchase immediately

• don't look at the cost

• seek advice

• research after buying