How are opportunity costs and buying connected?(1 point)

Question

How are opportunity costs and buying connected?(1 point)

Responses

People buy items to make the most money from a product.
People buy items to make the most money from a product.

People buy items that grow their wealth.
People buy items that grow their wealth.

People buy items that give them the most happiness.
People buy items that give them the most happiness.

People buy items that they need.

Answer 1

People weigh the opportunity cost of buying one item over another, considering what they are giving up in order to make a purchase. For example, if someone wants to buy a new car, they may consider the opportunity cost of what else they could do with that money, such as investing it or saving it for a future purchase. This helps them make a decision that aligns with their goals and values.