Question

The full-time job not worked by a college student (and the wages not earned) because she has to spend a lot of time studying is an example of?

Answer 1

The full-time job not worked by a college student (and the wages not earned) because she has to spend a lot of time studying is an example of opportunity cost.

Opportunity cost is the time you spend studying and the money you spend doing something else. The farmer decided to plant wheat. The opportunity cost is to grow another crop or use resources (land and farm tools) in another way. Commuters commute by train instead of by car.

Opportunity cost is what you have to give up to buy what you want in other goods and services. When economists use the word cost, they usually mean opportunity cost. The word “expenses” is often used in everyday conversation and news.

Opportunity cost is an economic term that refers to the value of something you have to give up in order to choose something else. In short, it's the value of the path it didn't take.

Learn more about Opportunity cost here: brainly.com/question/8846809

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