In the business world,a popular phrase is “value for money.”People want their cash to go as far as possible.However,another is fast obtaining an advantage:“value for time.”The biggest restriction on our resources is the number of hours we can devote to something,so we look to maximize the return we get on our investment of time.By reading this passage you are giving over a bit of your time which could be spent doing other activities,such as sleeping and eating.In return,however,this passage will help you to think like an economist,closely considering the opportunity cost of each of your decisions.
1.According to the passage,the concept of “opportunity cost” is applied to .
A.making more money
B.taking more opportunities
C.reducing missed opportunities
D.weighing the choice of opportunities
2.The “leftover...time” in Paragraph 3 probably refers to the time .
A.spared for watching the match at home
B.taken to have dinner with friends
C.spent on the way to and from the match
D.saved from not going to watch the match
3.What are forgone opportunities?
A.Opportunities you forget in decision-making.
B.Opportunities you give up for better ones.
C.Opportunities you miss accidentally.
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