Which scenarios can be considered effects of sole sister shoe store choosing to sell dress shoes over sneakers

Answer : Option A) High school athletes stop shopping there.

Explanation: The sole sister shoe store sells dress shoes over sneakers because they want to increase their sale of dress shoes along with the sneakers. As they experience a good crowd from high school athletes they can easily sell dress shoes to them over sneakers.

High School athletes stop for shopping there and inventory of sports socks remain unsold.

Further Explanation:

The store of the soul sister sales dress shoes more over the speakers because she wants to increase the sale of dress shoes and also of the sneakers. They experienced a good crowd from the high school athletes. So they can very easily sell those dress shoes to the students of high school over sneakers. This is the perfect example of opportunity cost. When we choose an option from the alternative. This cost is incurred by not enjoying the benefits which are associated with the best choice. It is the loss of potential gain when another alternative is chosen. It is the benefit received when we do not select the next best option. It is the key concept of economics. It is described as the best relationship between choice and scarcity. We use it when we want to increase the sale of scarce resources and wanted to use scarce resources efficiently. It is not restricted to financial cost. The opportunity cost is the revenue earned by the alternative use. If the opportunity cost is tied with the business it is the interest earned on funds in other ventures.

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Answer Details:

Grade: High School

Chapter: Opportunity Cost

Subject: Social Science

Keywords:

Increase, Sale, Alternative, Scarce Resources, Efficiently

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