This notion realizes that when a potentially advantageous situation arises that one may need to consider the "price" for taking advantage of the situation.In other words,this concept recognizes that making one decision may come at the price of other potential situations.
A)opportunity costs.
B)overconfidence.
C)inclusion fallacy.
D)bounded rationality.

Question

Quizplus · Accepted Answer

This notion is known as opportunity costs, which is the cost of the opportunity foregone in making one decision over another. It acknowledges that resources (time, money, etc.) are limited, and by choosing one option, one must sacrifice the benefits that could have been derived from the other options.

This Notion Realizes That When a Potentially Advantageous Situation Arises