What is the best economic explanation for why a person would drop out of college to take a job or start a business?
A) he has a good idea for starting a business
B) he has to pay a higher tuition to attend college
C) the expected future benefits from starting a business now are greater than the costs
D) the opportunity cost of starting a business is high now, but will be low later in life

Question

Quizplus · Accepted Answer

The decision to drop out of college to start a business or take a job is based on the economic concept of opportunity cost, where the individual weighs the potential benefits and costs of each option. If the expected future benefits from starting a business or taking a job are greater than the costs of dropping out of college, it makes economic sense to pursue that option.

What Is the Best Economic Explanation for Why a Person