3. Define opportunity cost. Give an example of a personal decision you made within the past year. What explicit costs were involved

The interpretation including its question would be characterized underneath in the explanatory paragraph.

Explanation:

Opportunity costs are economic downsides that authority, an investment company, or perhaps a corporate mess up because once making a choice one alternate solution more than another. This same judgment I decided to make since then has been to attend college rather than just continuing to operate at the local grocery store. Explicitly associated costs throughout someone's intention to pursue are school fees, sleeping expenditures, journals, cars something which I bought to pursue higher education.

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