Opportunity Cost Assignment and Quiz 100%

As an entrepreneur, every business decision that is made has an opportunity cost connected to it. False True

False

Earning a college degree never results in higher future earnings. True False

False

Opportunity costs are _____. costs of selecting two things costs of selecting one thing costs of selecting one opportunity or investment over another none of the above

costs of selecting one opportunity or investment over another

Some costs of going to work are_____. not enjoying the outdoors on a nice day not sleeping in not finding a better job stability

not enjoying the outdoors on a nice day not sleeping in not finding a better job

Choosing to go to college over getting a job right out of high school is an example of a(n) _____. fixed cost opportunity cost variable cost none of the above

opportunity cost

Choosing to go to get a job right out of high school instead of going to college is an example of a(n) _____. fixed cost opportunity cost variable cost none of the above

opportunity cost

Opportunity costs are _____. the costs related to the product that have to be paid regardless of the amount you sell the costs that change depending on a company's performance the costs resulting from a business owner's choice when selecting one thing over another and how it will impact the business none of the above

the costs resulting from a business owner's choice when selecting one thing over another and how it will impact the business

A business owner will have to decide how selecting one thing over another will impact the business. This is an example of _____. fixed costs opportunity costs variable costs none of the above

opportunity costs

Costs of selecting one opportunity or investment over another are _____. fixed costs opportunity costs variable costs none of the above

opportunity costs