Question

Assessing opportunity cost involves...


making choices and dealing with consequences.

choosing consequences over rewards.

reviewing past decisions and changing them.

minimizing profit and loss.

Answer 1

Answer:

Assessing opportunity cost involves making choices and dealing with consequences.

Explanation:

Opportunity cost means that, the cost to gain something with some consequences. If there are multiple opportunities in front of you and you have to analyze or assess each opportunity. In this assessment you have to assess the consequences of all choices or opportunities. After assessing all the opportunities you will select the opportunity in which you have more gain and less consequences.

So we can say that, while assessing different opportunities, we have to make choices and dealing with consequences.

Answer 2

This expense of gaining something with certain implications is referred to as the opportunity cost. When you have several options in front of you and must analyze or evaluate each one. In this assessment, you must consider the repercussions of all choices and possibilities.

• After weighing all of your options, you will choose the one with the most profit potential and the fewest drawbacks.
• Therefore, while evaluating alternative options, we must make decisions and cope with the repercussions.
• Evaluating cost-benefit entails making these decisions and living with the aftermath.

Therefore, the answer is "first choice".

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