Question

The fact that Samira may miss out on a scholarship opportunity by staying on the freshman team illustrates

Answer 1

This showcases the main concept of opportunity which exists in the lives of every person.

In economics, there is a concept of opportunity cost. It refers to the next best alternative forgone. What happens is that scarcity of resources exist in our time.

Due to the nature of man having unlimited wants but limited resources to fulfill those wants, this concept emerges. Where one must forgo one thing against the other because they are only able to get that one thing.

For instance, if we have to choose between buying item A and item B , but both cost $10 and we too have one $10 then we must make a decision of buying one thing.

Subsequently, Samira might miss out on a scholarship opportunity if she stays on the freshman team. This shows the concept of opportunity cost.