A student decides to spend an evening studying for a GED exam instead of going to a concert with friends. What economic concept does this decision best illustrate?

A Supply and demand

B Opportunity cost

C Diminishing returns

D Comparative advantage

✓ Correct Answer: Option B

Opportunity cost is the value of the next best alternative that was not taken when a decision was made. In this case, the opportunity cost of studying is missing the concert.

💡 Why is B) the correct answer?

The correct answer to the question "A student decides to spend an evening studying for a GED exam instead of going to a concert with friends. What economic concept does this decision best illustrate?" is Option B: Opportunity cost.

The other options — A) Supply and demand, C) Diminishing returns, D) Comparative advantage — are incorrect for this GED Exam Prep question. As explained above: Opportunity cost is the value of the next best alternative that was not taken when a decision was made. In this case, the opportunity cost of studying is missing the concert.

📚 About This GED Exam Prep Practice Question

This 2-level GED Exam Prep question from the Social Studies topic is part of BrainForge Quiz's free exam preparation library. Each question includes the correct answer and a detailed explanation to help you understand the underlying concept, not just memorize the answer.

How to use this page: Read the question above, consider all four options (A through D), then check the highlighted correct answer and explanation. For active timed practice, start a free GED Exam Prep practice test or use flashcards for spaced repetition review.

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A student decides to spend an evening studying for a GED exam instead of going to a concert with friends. What economic concept does this decision best illustrate?

✓ Correct Answer: Option B

📚 About This GED Exam Prep Practice Question

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