mr. t chose to spend his time and money in university to study to become a teacher because teaching is his…

mr. t chose to spend his time and money in university to study to become a teacher because teaching is his passion. however, mr. t could have studied nuclear engineering and become a nuclear engineer, a job that earns way more money than being a teacher. which economic term best describes this potential loss in money in mr. ts choice of becoming a teacher rather than a nuclear engineer?\nopportunity cost\nscarcity\nmicroeconomics\nmacroeconomics\nincentives

mr. t chose to spend his time and money in university to study to become a teacher because teaching is his passion. however, mr. t could have studied nuclear engineering and become a nuclear engineer, a job that earns way more money than being a teacher. which economic term best describes this potential loss in money in mr. ts choice of becoming a teacher rather than a nuclear engineer?\nopportunity cost\nscarcity\nmicroeconomics\nmacroeconomics\nincentives

Answer

Brief Explanations:

Opportunity cost is the value of the next - best alternative forgone. In this case, Mr. T gives up the higher earnings of a nuclear engineer to become a teacher. Scarcity refers to limited resources, microeconomics and macroeconomics are broader fields of study, and incentives are things that motivate behavior.

Answer:

Opportunity cost