We need the “following” options in order to answer the question. What are your multiple choice answers? The question is too broad to even begin to answer without what the question is aimed toward. I’m sure that you’ll get immediate response once you give the answer: “which of the following”, stated in the body of the question. Sorry.
Answer:
B. make sure your car is adjusted correctly and ready for a drive
Explanation:
A pre-drive check can ensure your vehicle is in good shape and will not cause any problems when you are on the road.
Answer:
B. A business gives its employees a raise, so it cannot afford to buy any TV ads.
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.
For instance, if you decide to invest resources such as money in a paying your employees (workers), your opportunity cost would be the benefits like increased sales you could have earned if you had invested the same amount of resources in advertising your business.
Hence, the situation which best illustrates the economic concept of opportunity is when, a business gives its employees a raise, so it cannot afford to buy any TV ads.
