Answer to Question #248740 in Economics for nelly

Question

Choose which Principle of Economic Thinking in present in this scenario: 

You are coming home from practice. It is late and you are tired. You see you need to get gas for your car, but you really just want to go home. "I'll just get gas on my way to school tomorrow" you think. The next day, you forget you needed gas until you got in your car, and now you will be late to school. 

Answer 1

This situation illustrates the principle of Opportunity cost.