You decide to join the economics club, but this means you can't join the accounting club because it meets at the same time. this statement best represents the economic concept of: a. the real cost of something is what you must give up to get it. b. "how much? " is a decision at the margin. c. people usually exploit opportunities to make themselves better off. d. there are gains from trade. e. markets move toward equilibrium. 27. the student center on campus has burritos, bagel

Option (A) is correct.

Explanation:

The statement in the question best describe the economic concept of real cost of some activity that is foregone to get the satisfaction from the other activity.

There is one more economic concept that is opportunity cost. Opportunity cost refers to the cost or benefit that must be give up by choosing some other alternative.

In our case, you have to decide whether you want to join accounting club or economics club and timings of both the clubs are same. Therefore, you have to choose one club and give up the other one. The cost of giving up is the opportunity cost.

credit history is used by lenders to determine whether you are a 'risky' person to give their money to.

having a short history provide very little data for the lenders. they wouldn't be able to determine your credit behavior from such a small samples. even if they are perfect.

having long credit history with few blemishes provide larger and more accurate data for the lenders to predict your credit behavior.