Answer:
People make choices about what to buy.
Explanation:
Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.
Simply stated, it is the cost of not enjoying the benefits, profits or value associated with the alternative forgone or best alternative choice available.
Hence, the opportunity cost of buying a product is the utility (satisfaction) that could be derived in another product using the same amount of money.
For example, if you decide to use your money to buy a Playstation 5, your opportunity cost would be the satisfaction you could have derived if you had invested the same amount of money in buying a bike for easy transportation.
Hence, opportunity costs exist when people make choices about what to buy.
Vice President, Department of Defense, and Environmental protection agency.
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The focus of the Renaissance at the time was on the works of
the Greeks and Romans. Emphasis was more
human activities like science, literature and the arts. This was called
Humanism where the focus of learning was on culture. Knowledge and ideas once lost was revived and
was now growing in Europe and this helped in cultural and intellectual
development.
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Southerners were afraid that if they admitted California as a free state, when it came to vote on things like the Wilmot proviso, free states would have majority rule.
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