Question

You decide to take part time job to help with college expenses hours available for study are thus reduced the reduction in study hours would be your

Answer 1

Answer:

The reduction in your free time

Explanation:

Answer 2

Options:

1. variable cost.
2. direct cost.
3. fixed cost.
4. opportunity cost.

Answer:

4) opportunity cost.

Explanation:

An opportunity cost is the cost or forfeited income resulting from choosing one alternative activity or investment over another.

In this case, if you decide to work, then you will not be able to study during your work hours. On the other hand, if you decide not to work, then you would be losing the income provided by your part time job.

Since resources are finite, we must exchange or trade resources. In this case time is finite and we must decide how to spend it, but we are not able to perform two separate tasks at the same time.