23
QuizMultiple Choice

Relating Income and Careers — Test

Question 23 • Personal Finance

What is an opportunity cost of attending college?

Answer
A
lost wages from not working
B
scholarship awards
C
increased earnings
D
tuition payments

Explanation

Opportunity cost is the value of the next-best alternative you give up when making a choice. By attending college, a person may give up wages they could have earned by working during that time. Therefore, the opportunity cost is lost wages from not working; tuition payments are a direct cost, not the opportunity cost asked for here.

AI-written and checked against the verified answer.

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