Which of the following is an example of opportunity cost? a. Renting an apartment near school b. Saving money instead of taking a vacation c. Organizing income tax records d. Purchasing automobile insurance e. Using a personal computer for financial planning

(B) Saving money instead of taking a vacation.

Explanation:

Basically, opportunity cost is the cost incurred by not enjoying the benefit associated with the best alternative choice. It is the weighing the sacrifice made against the gain achieved when making tough money, career, and lifestyle decisions. It is a benefit, profit, or value of something that must be given up to acquire or achieve something else.

You will have to spend a lot of time weighing whether or not the inevitable consequences of a given decision are outweighed by the gains that decision will bring. So saving money instead of taking a vacation is an opportunity cost as you will be choosing saving money over taking a vacation.

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answer; engaging in effective public relations;