They are Imagination, association and location
Opportunity cost is relevant in this situation. Your opportunity basically consists of the full amount of your college expenses plus the money you would've made when you have chosen to work instead of enrolling in school. <u>The opportunity cost of attending college is $260,000.</u>
The potential benefits that even a person, investor, or business forgo while choosing between two possibilities are known as opportunity costs. Opportunity costs can be easily disregarded since they are by nature invisible.
The opportunity cost would be the worth of what you forgo while making a decision among two or more choices. It's a basic principle that applies to both investing and daily life. The opportunity cost in investing would be the amount of cash you can lose by choosing one asset above another.
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Answer:
I consider myself as a good test taker. If I do not prepare for a test then I will get a low grade. When I prepare for a big tests I pull out my notebook, textbook and highlighters and begin to highlight and study all the key points in that subject. PSAT allows me to get a feel for the SAT studying for the PSAT will follow through and give me skills that I will need to take the SAT.
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