PRC-3 · Chapter 4 · Question 15 of 65
A student decides to study full-time for their CA exams instead of taking a job that pays Rs. 50,000 per month. What economic term describes the lost potential income of Rs. 50,000?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Opportunity cost
Explanation
Opportunity cost is the value of the next best alternative forgone as the result of making a decision.
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