Question

Think of some of the options you have for spending time after school sports practice hobby clubs work or extra study for example which option would you choose what is the opportunity cost of your choise

Answer 1

Let us choose Extra study. Knowing that opportunity cost is related to the opportunities lost by choosing one specific course of events than others. By choosing an extra study and spend hours studying something, my opportunity cost will be the school sports practice hours that could be spent in this time. Another opportunity cost would be the social interaction, in a club, for example, lost because of the extra study decision.