young man
scarcity of time and money
young man
scarcity of time and money
produce cars
choice 1 the opportunity cost of this will be missing out on the chance to invest in the sport industry
sport utility vehicles (SUVs)
choice 2 the opportunity cost of this is the investment in cars - the most popular vehicle
labor and other materials
scarcity
that a 500-acre area
scarcity
build a housing development
choice 2 if we choose this option, the opportunity cost will be damage to the environment, particularly the natural habitat of rodents
a rodent
choice 1 the opportunity cost of this will be the loss of a chance to develop a livable area