Asked by ka ki cheng on Jul 01, 2024
The opportunity cost of leisure is impossible to measure because we cannot measure leisure time in dollars.
Opportunity Cost
The loss of potential gain from other alternatives when one alternative is chosen.
Leisure Time
Time available for ease and relaxation, where no work-related duties are expected, allowing for personal preferences in activities.
- Understand the complexities in measuring the opportunity cost of leisure.
Learning Objectives
- Understand the complexities in measuring the opportunity cost of leisure.