why is opportunity cost important when you make choices

Answers

Answer 1
its important because it helps u make better decision because it puts your decision in contexts.cost and benefits are framed on what is important to you.




hope u love d answer
Answer 2
Final answer:

Opportunity cost refers to the potential benefits missed out on when choosing one option over another. This concept is crucial in decision-making, helping us to use our resources efficiently and weigh the pros and cons of each choice, considering not only the obvious costs but also the hidden ones such as lost opportunities.

Explanation:

Opportunity cost is an important concept in economics that refers to the potential benefits an individual, investor, or business misses out on when choosing one alternative over another. The literal 'cost' of doing A instead of B.

Every decision we make in life has an opportunity cost associated with it. For instance, if you decide to spend an hour playing video games, the opportunity cost could be the studying or reading you could have done in that time.

The importance of considering opportunity cost is to make sure you're utilizing resources efficiently. Without considering opportunity cost, you might make decisions that would yield less satisfaction, utility, or output from your resources.

Opportunity cost is essential while making choices because it allows you to weigh the pros and cons of each decision, considering not only the obvious costs but also the lost opportunities.

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Related Questions

what was a primary occupation in the southern colonies

Answers

A primary occupation in the southern colonies was farming (agriculture).

Who were the Southern colonies?

The Southern colonies included- Georgia, North and South Carolina, Maryland, and Verginia. The English settled these colonies. The economy of Southern colony was based on farming. The southern colonies were made up of mostly coastal plains and they were known for their plantations. They were also known for its three distinct features: agricultural plantation, warm weather, and bustling coastal cities.

What was the primary occupation in Southern colonies?

The Southern colonies mostly concentrated on agriculture and they exported the agricultural products as well. The cash crops which the Southern colonies exported were- cotton, tobacco, rice, indigo, corn, vegetables, grain, fruit, and livestock.

The Southern Colonies consisted of the largest slave population who worked on the plantations to grow cotton, tobacco, indigo, and other cash crops and kept the massive farms running. The main cash crop grown in Maryland was tobacco and the main cash crops grown in South Carolina and Georgia were indigo and rice.

Hence, the primary occupation in the Southern colonies was farming.

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Who was the first person to die in world war 1?

Answers

John Henry Parr, give me brainliest :D

Why did the southern colonies develop plantation farming?

Answers

When were african slaves first brought to the caribbean?

Why was support for the war against great britain strongest in the west and south?

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Britain had important military sucess in the south, as well with the loyalist in the south being strong. The west had important figures of all time during the fgigging with great generals

What plants did europe bring to america cultural traditions did europe have?

Answers

wheat, barley, sugar cane and sweet potatoes are some plants they brought over

Final answer:

The Columbian Exchange resulted in significant agricultural and cultural exchanges between Europe and the Americas. European food crops like wheat, barley, and onions were brought to the Americas, while American crops like potatoes, maize, and tobacco were taken back to Europe. These exchanges had profound effects on diets, agricultural practices, and cultural traditions on both continents.

Explanation:

During the Columbian Exchange, a vast variety of plants and cultural traditions were exchanged between Europe and the Americas. Europeans introduced many new food crops to the Americas, such as wheat, oats, barley, grapes, olives, onions, and coffee beans. Conversely, America shared its wealth of crops including potatoes, maize (corn), tobacco, sugarcane, pumpkins, squash, cacao beans, tomatoes, chili peppers, vanilla, and peanuts. These exchanges significantly impacted the dietary habits, agricultural practices, and cultural traditions on both sides of the Atlantic.

In Europe, the introduction of American staple crops like maize and potatoes contributed to a population boom and influenced the social and economic landscapes. Foods originally developed by the Native Americans, such as maize, potatoes, cassava, tomatoes, sweet potatoes, cacao, chili peppers, and tobacco, became crucial to the global economy. These contributions helped spark significant changes, including the Industrial Revolution in Europe.

Similarly, in America, European plants and crops, along with agricultural wisdom and food processing techniques, enriched the existing food traditions. Today, many of the food traditions and agricultural practices in the US trace their roots to these transatlantic exchanges, which also involved Asian contributions through European intermediaries, such as citrus, sugar, rice, and soybeans.

Why did populists support william jennings bryan?

Answers

Bryan lost his subsequent bids for the presidency in 1900 and 1908, using the years between to run a newspaper and tour as a public speaker. After helping Woodrow Wilson secure the Democratic presidential nomination for 1912, he served as Wilson’s secretary of state until 1914. In his later years, Bryan campaigned for peace, prohibition and suffrage, and increasingly criticized the teaching of evolution.
Final answer:

The Populist Party supported William Jennings Bryan because he aligned with their platform and represented the desires of farmers. Despite their endorsement, Bryan lost the election, leading to a decline in the Populist Party's momentum.

Explanation:

The Populist Party supported William Jennings Bryan because he largely aligned with their platform and was seen as an ideal candidate for their movement for change. Bryan advocated for a silver-based monetary system and the government coining more silver, which was in line with the desires of farmers who were part of the Populist movement. Despite the Populist Party endorsing Bryan and supporting his candidacy, he ultimately lost to Republican William McKinley, leading to a decline in the momentum of the Populist Party.

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What was the effect of the Zimmerman telegram on world war 1?

Answers

Answer: It helped convince U.S. leaders to send American troops to fight in Europe.

Explanation:

A.P.E.X CONFIRMED

During the french and indian war, how did the quakers uphold their principles

Answers

The Quakers lived in harmony and peace, as their religion permitted and demanded; therefore, they had no problems with neighboring Indian tribes; however, this peace was threatened in 1757, when the Delaware and Shawnee natives joined the French, during the Franco-Indian War, and the Pennsylvania government declared war on the two Indian tribes. From that moment on, the Quakers renounced the Pennsylvania Council to keep themselves out of this war, for their pacifist way of seeing life prevented them from going to war with the Indian tribes.

How did life for children at New Lanark differ from those who lived in industrial cities?

Answers

The believed in the equality of all people and wanted to replace competition with coordination in the industry.

What were social limitations for african americans in 1865 to 1900?

Answers

No voting
No “white” places
Less exceptance

What would the constitutional amendment proposed in the crittenden compromise have done?

Answers

The amendment would have allowed slavery in western territories south of the Missouri Compromise line and would have provided federal funds to reimburse slaveholders for fugitive slaves.

The answer is allowing slavery in western territories south of the Missouri Compromise line.


The Constitutional amendment proposed in the crittenden compromise to have allowed slavery in western territories south of the Missouri Compromise line and would have provided federal funds to reimburse slaveholders for fugitive slaves.

What is amendment?

A correction is sometimes known as an amendment. It can take several forms, such as upgrading anything through legislative or judicial processes. It is a constitutional amendment adopted by the top legislative body.

According to the Tenth Amendment, "the powers not provided to the United States by the Constitution, nor denied to the states by it, are reserved to the states, or to the people."

The amendment would have legalized slavery in the western regions south of the Missouri Compromise line and offered government cash to compensate slaveholders for fleeing slaves.

Therefore, it can be concluded that  allowing slavery in western territories south of the Missouri Compromise line.

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what are textiles used to make

Answers

Yarn is produced by spinning raw fibres of wool, flax, cotton, hemp, or other material to produce long strands. Textiles are formed by weaving, knitting, crocheting, knotting, or felting. The words fabric and cloth are used in textile assembly trades (such as tailoring and dressmaking) as synonyms for textile.

Textiles are used to make industrial things like paper, yarn, etc.

The area in red on this map shows the north american empire belonging to what country?
a.england
b.france
c.portugal eliminate
d.spain

Answers

The answer would have to be d which is spain

What was the purpose of the Sherman Antitrust Act?

Answers

Ow ya it is c but is writen diffrently but is c

. In the 1800s, the work of raising tobacco, rice, or cotton on plantations in the South was done by _____. enslaved people from Africa and the West Indies enslaved people from the Natchez, Creek, and Cherokee tribes English, Scottish, and Irish immigrants Mexican and Cuban immigrants

Answers

either the colenists or slaves

Answer:

african slaves

Explanation:

According to the philosophy thomas jefferson expressed in the declaration of independence, what was the primary responsibility of the government, and from where did jefferson pull this idea from?

Answers

To ensure the freedom of the people and from John Locke.

Which of the following departments was part of President George Washington's original cabinet?

♡ Department of the Treasury
♡ Department of Labor
♡ Department of Transportation
♡ Department of the Interior

Answers

It is the Department of the Treasury. He was prevailing by his VP, John Adams of the Federalist Party. Washington had built up his overwhelming nature among the new country's Founding Fathers through his administration as Commander-in-Chief of the Continental Army amid the American Revolutionary War and as leader of the 1787 Constitutional Convention.

The person who was put to death for the 1995 bombing of a federal building in Oklahoma City had once been a member of what organization?
an anti-abortion group
a radical anti-war group
the United States Army
the Greenpeace Movement

Answers

He was once in the U.S. Army, a security guard

Answer:

The United States Army is correct.

Explanation:

Timothy McVeigh, a former U.S. Army soldier, is convicted on 15 counts of murder and conspiracy for his role in the 1995 terrorist bombing of the Alfred P. Murrah Federal Building in Oklahoma City.

dissent is highly destructive to democracy

Answers

are you asking a question or just posting cause you feel like it?

How did military leaders prevent democracy in Brazil? Check all that apply.

a] They regulated political parties.

b] They controlled elections.

c] They kidnapped dissenters.

d] They arrested legislators.

e] They killed dissenters.

the answer is a,b&d for edgenu

The late gothic period peaked in which century?

Answers

The gothic period lasted from mid-12th century to as late as the end of the 16th century, so I would assume that it peaked in the mid 12th century!

Answer:

The Late Gothic period was a stage of French Gothic art and other European countries, which developed from the last part of the 14th century and the beginning of the 15th. It was characterized not to have a diffusion center, which is why diversity prevailed in it.

It was a time of relative crisis, so the large construction companies of the previous period disappeared. On the Iberian Peninsula, on the contrary, there was a moment of reconstruction, although it had a late entry and a very short duration. On the other hand, religious architecture gave way to the civil and military constructions. Markets, town halls, castles and palaces were the protagonists of this architectural current.

Before the first settlers came to the American continent there were no _____.

potatoes
clothing made of wool
covered wagons tied to horses
shoes to walk in the snow

Answers

pretty sure the answer is potatoes.. could be wrong 

i just finished this question for school, and im pretty sure its "potatoes", and "covered wagons tied to horses"

Who was the first black president under the articles of confederation?

Answers

John Hanson was the first black president under the articles of confederation

The Midwest is known as “the nation’s breadbasket” because of its

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Because of its wheat production.

The Midwest is known as “the nation’s breadbasket” because of its wheat production.

The Midwest is called the "nation's breadbasket" because it is the country's largest producer of grain, as well as hogs and dairy products. The states of the Midwest all have productive, fertile farmland.

The region of the United States that is known as "breadbasket" is the Great Plains. The Great Plains are located east of the Rocky Mountains and west of the Mississippi River. The region is famous for its grain and corn production.

What happened when general custer took off his boots worksheet?

Answers

He felt the defeat.

General George Armstrong Custer is a famous army leader who was overpowered at the "Battle of the Little Bighorn" fought in 1876, amid the "Indian Wars", when battling against the indigenous people. 

The "joke" depends upon the homophonous comparability of "defeat" and "the feet", along these lines when removed his boots he experienced the feet.

Final answer:

The question pertains to the Battle of Little Bighorn, particularly General Custer's final stand and the role of his scouts. Despite the scouts' efforts, the battle ended with Custer's defeat and the loss of his forces.

Explanation:

The question relates to the historical events that took place during the Battle of Little Bighorn, where General Custer's last stand became a significant moment in American history. It was a tragic defeat for Custer and his 7th Cavalry, where they faced thousands of Lakota, Cheyenne, and Arapaho warriors. The battle's outcome was profoundly affected by the scouts and their ability to read the land and understand the enemy's positions, but ultimately, Custer's forces were overwhelmed, and the battle concluded with the death of Custer and many of his men.

From the provided texts, we understand the actions taken by Custer and his scouts such as Hairy Moccasin and White-Man-Runs-Him, who were crucial in navigating the terrains and reporting on the enemy's location. The mention of Custer taking off his boots and his freedmen unbuckling the spurs from his steel greaves hints at the preparation for a final and fateful assault. The narratives also reflect on the bravery and faithful service of the scouts before and during the battle.

The author of the original proposal for the bill of rights was __________.

Answers

the author of the original proposal for the bill of rights was James Madison

What was the name of the united states armed forces during world war i?

Answers

American Expeditionary Forces Or AEF


Who was John Adams Vice president.

Answers

Thomas Jefferson was John Adams' Vice President.

Answer:

As John Adams was fulfilling the role of president, is vice president was Thomas Jefferson.

Explanation:

Adams and Jefferson often disagreed over many topics and ideas, but it was honestly to be expected. John Adams was a "Federalist", while Thomas Jefferson, was a proud "Democratic-Republican". This caused many problems, that soon lead to the election of 1800. - During this election Jefferson won the presidency, which was to be known as a historical day. In the end, over many years of being un-mannerly towards each other... Adams wrote a letter to Jefferson requesting a meeting so they could come to amends. After all else was solved, Adams and Jefferson died on the same day, that is celebrated every year by U.S. citizens..... July 4, 1826.

What two alliances that europe was divided into at the star of ww1?

Answers

Triple Entente and the Central Powers.

Central Powers: Austria-Hungary, Germany, Bulgaria and the Ottoman Empire.

Triple Entente: Serbia, Russia, France, the United Kingdom, Italy, Belgium and the United States.

Hope this Helps! :)
Final answer:

Europe was divided into the Triple Entente and the Central Powers at the start of World War I.

Explanation:

The two alliances that Europe was divided into at the start of World War I were the Triple Entente and the Central Powers.

The Triple Entente, also known as the Allied Powers, consisted of France, Great Britain, and Russia. The Central Powers, also known as the Triple Alliance, included Germany, Austria-Hungary, and initially Italy.

These alliances were formed as a result of competing rivalries and fears of encirclement among major European powers.

How did Confucianism, legalism, and Diosm suggest that society be controlled

Answers

they would give harsh punishments so the society dosnt do the wrongdoing

Why did President Thomas Jefferson want control of New Orleans?
A.to control trade along the Mississippi River
B.to control the island of Haiti in the Caribbean
C.to increase the amount of land available for settlement
D.to increase the likelihood of finding a water route to the Pacific

Answers

Answer:

The answer is A:to control trade along the Mississippi River

Explanation:Sorry if im wrong TwT

President Thomas Jefferson wants control of New Orleans because to control trade along the Mississippi River. The correct option is A.

How did President Jefferson plan to take control of New Orleans?

Instead of going to war, President Jefferson proposed purchasing New Orleans and West Florida for up to $10 million. He dispatched James Monroe to assist Robert Livingston in negotiating the sale, and if that failed, they were to negotiate rights to utilize the port of New Orleans (known as "rights of deposit").

Jefferson's soldiers were in Paris to purchase the port of New Orleans. To him, New Orleans was crucial: whoever held it would be America's natural opponent since that country would control the canal through which products from more than a third of the country had to transit.

Thus, the ideal selection is option A.

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