yoghurt ice cream store after 'A' Levels Exam – PDG S08/12 Group4

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Yoghurt Ice-cream Store ? – PDG S08/12 Group4

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Choice

Alternative or selection

Yoghurt Ice-cream stall

University

Opportunity Cost

The cost of any action or decision, measured in terms of the highest valued alternative forgone.

Further studies

Higher education level

Better job prospects

Higher social status

Higher income

Better quality of life

more satisfaction

Higher standard of living

Other job opportunities

Scarcity

The situation that exists when there is an excess of human wants over what can actually be produced to fulfill these wants.

Capital

Setting up yoghurt stall

University fees

Youth