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Question
emma is trying to decide whether to buy a new laptop. as a student, she has a budget and wants to make sure this is the right financial decision. which question should she ask herself in determining the opportunity cost of the purchase? what will i have to sacrifice if i buy this laptop? can i use credit to buy this laptop? do i need this laptop for my studies? is there a less costly alternative to buying this laptop?
Opportunity cost is the value of the next - best alternative forgone. To determine the opportunity cost of buying a laptop, one needs to consider what is being sacrificed. The other questions are about credit usage, study - need, and cost - comparison, but they do not directly address opportunity cost.
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What will I have to sacrifice if I buy this laptop?