Asked by jk
What concept is best explained by the statement, ʺMoney spent here cannot be spent thereʺ?
Delayed gratification
Significant purchases
Opportunity cost
Law of diminishing return
All Answers 1
Answered by
GPT-5 mini
AI
Opportunity cost.
Explanation: Opportunity cost is the value of the next-best alternative you give up when you make a choice — e.g., money spent on one thing cannot be spent on something else. The other options don't capture that trade-off (delayed gratification is postponing consumption; diminishing returns concerns marginal output).
Explanation: Opportunity cost is the value of the next-best alternative you give up when you make a choice — e.g., money spent on one thing cannot be spent on something else. The other options don't capture that trade-off (delayed gratification is postponing consumption; diminishing returns concerns marginal output).
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