Question

Which of the following refers to the value of something we give up to obtain something​ else? A. Objectives B. Price C. Cryptocurrency D. Opportunity cost E. Bartering

Answer 1

Answer: Opportunity cost

Explanation:

Opportunity cost could be seen as forgoing an item or a plan for that which has better priority when they both have same or similar values or cost, and this would be based on individuals decision and not a fixed standard. An example would be buying a house over a car, the individual at this point may be tired of paying rent and decided to buy a house which at this point could be the same cost with the car but for the sake of opportunity cost he chooses the house over the car.