What is the difference between a cost and opportunity cost? (1 point)
The cost is your expenses, while the opportunity cost is how you spend your income.
The cost is your plan for
• spending money, while the opportunity cost is your plan for saving money.
The cost is a short-term
• goal, while the opportunity cost is a long-term goal.
The cost is the price you
• pay for what you get, while the opportunity cost is what you did not get instead.