Which of these statements describes one of the opportunity costs of attending college?

A. Specializing in one area of study limits a person's possible jobs. B. The high cost of tuition requires most students to take college loans. C. A college education is no guarantee of getting a high-paying job later in life. D. Time spent on schoolwork takes away from the chance to earn money at a job.

Question

Social Studies

Timothy Mcneil

1 October, 01:46

Which of these statements describes one of the opportunity costs of attending college?

A. Specializing in one area of study limits a person's possible jobs. B. The high cost of tuition requires most students to take college loans. C. A college education is no guarantee of getting a high-paying job later in life. D. Time spent on schoolwork takes away from the chance to earn money at a job.

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Answers (1)

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Sumo · Answer 1

D. Time spent on schoolwork takes away from the chance to earn money at a job.

Explanation:

Opportunity cost in simple terms is the cost forgone when an alternative is let go for a particular choice. That is, the cost incurred by not enjoying the benefit associated with the best alternative choice.

In this question option D is correct because the opportunity cost of attending college is that the chances of earning money from a job is forgone so as to study.

Option A is incorrect because it is clearly not the opportunity cost of attending college.

Option B is also incorrect because while it clearly states that tuition for college is high, it is also not an opportunity cost of attending college.