Question

You have several options for how to spend your Saturdays. Your top options are volunteering with an animal rescue or mowing lawns in
the neighborhood for cash. You choose to volunteer. Which economic term now describes the option of mowing lawns?

Answer 1

An economic terminology which describes the option of mowing lawns is opportunity cost.

What is an opportunity cost?

An opportunity cost is also referred to as alternative forgone and it can be defined as the value, profit or benefits that are given up by an individual or business firm, in order to choose or acquire something deemed most significant at the time.

In this context, we can infer and logically deduce that an economic terminology which describes the option of mowing lawns over animal rescue is an opportunity cost.

Read more on opportunity cost here: brainly.com/question/8846809

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