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:
All knowledge is learned through the senses, perceptions.
Some knowledge is learned by personal experience, personal perception, some knowledge can be learned by reading about the experiences of others.
There is no knowledge that is not learned by either (a) personal experience, perception, or (b) by learning from the experiences and perceptions of others.
