If you give up a full time job to go to college, the major cost is ________.

tuition fees

No worries! We‘ve got your back. Try BYJU‘S free classes today!

room and board

No worries! We‘ve got your back. Try BYJU‘S free classes today!

the income you could have received from employment

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

social and miscellaneous expenses

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A the income you could have received from employment
Opportunity cost is the cost of the next best alternative use. Therefore, if a person gives up a full time job to attend college then the opportunity cost involved is the income which he could have received by doing that full-time job.

Suggest Corrections

Similar questions

Q. A non-profit organization received 210,000 as the entrance fee of a new member. If 50% of the fees has to be capitalized, what is the amount of fees needs to be shown in the income and expenditure account ?

Q. In a college, 56% of the students are boys and the rest are all girls. Further, 7.5% of the boys and 10% of the girls are getting a 100% fee waiver. If the number of students receiving a full waiver is 172, then find the number of students who receive a 50% concession on fee which is but 50% of students who are not receiving the full fee waiver.

Q. You are planning to go to Russia to pursue your college education. You will become a ____ to Russia.

Q. A school charges a transportation cost of ₹ 2275 and a camp fee of ₹ 1573. What is the estimated (to nearest hundreds) amount that you have to pay?

A non-profit organization received Rs. 10,000 as the entrance fee of a new member. If 20% of the fee has to be capitalized, what is the amount of fee needs to be shown in the income and expenditure account?

Join BYJU'S Learning Program