{"id":85088,"date":"2025-06-01T03:03:02","date_gmt":"2025-06-01T03:03:02","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=85088"},"modified":"2025-06-01T03:03:02","modified_gmt":"2025-06-01T03:03:02","slug":"suppose-an-agricultural-labourer-earns-%e2%82%b9400-per-day-in-her-village-sh","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/suppose-an-agricultural-labourer-earns-%e2%82%b9400-per-day-in-her-village-sh\/","title":{"rendered":"Suppose an agricultural labourer earns \u20b9400 per day in her village. Sh"},"content":{"rendered":"

Suppose an agricultural labourer earns \u20b9400 per day in her village. She gets a job to work as babysitter in a nearby town @ \u20b9700 per day. She chose to work as agricultural labourer. Which one of the following is the opportunity cost of the agricultural labourer?<\/p>\n

[amp_mcq option1=”\u20b91,100″ option2=”\u20b9700″ option3=”\u20b9400″ option4=”\u20b9300″ correct=”option2″]<\/p>\n

\n
\n
This question was previously asked in<\/div>\n
UPSC CDS-1 – 2020<\/div>\n<\/div>\n
Download PDF<\/a>Attempt Online<\/a><\/div>\n<\/div>\n
\nOpportunity cost is the cost of the next best alternative that is given up when a choice is made. In this scenario, the agricultural labourer has two options: earn \u20b9400 per day as an agricultural labourer or earn \u20b9700 per day as a babysitter. She chooses the agricultural labourer job. The opportunity cost of this choice is the income she foregoes by not taking the babysitting job, which is \u20b9700.
\n<\/section>\n
\n– Opportunity cost is the value of the forgone alternative.
\n– It is not the sum of the alternatives or the difference between them; it is the value of the single best alternative not chosen.
\n<\/section>\n
\nUnderstanding opportunity cost is fundamental in economics as it helps in analysing trade-offs and decision-making processes for individuals, firms, and governments. It highlights that resources are scarce, and choosing one option means giving up another.
\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Suppose an agricultural labourer earns \u20b9400 per day in her village. She gets a job to work as babysitter in a nearby town @ \u20b9700 per day. She chose to work as agricultural labourer. Which one of the following is the opportunity cost of the agricultural labourer? [amp_mcq option1=”\u20b91,100″ option2=”\u20b9700″ option3=”\u20b9400″ option4=”\u20b9300″ correct=”option2″] This question … <\/p>\n

Detailed SolutionSuppose an agricultural labourer earns \u20b9400 per day in her village. Sh<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1087],"tags":[1288,1120,1261],"class_list":["post-85088","post","type-post","status-publish","format-standard","hentry","category-upsc-cds-1","tag-1288","tag-economic-development","tag-nature-of-indian-economy","no-featured-image-padding"],"yoast_head":"\nSuppose an agricultural labourer earns \u20b9400 per day in her village. Sh<\/title>\n<meta name=\"description\" content=\"Opportunity cost is the cost of the next best alternative that is given up when a choice is made. In this scenario, the agricultural labourer has two options: earn \u20b9400 per day as an agricultural labourer or earn \u20b9700 per day as a babysitter. She chooses the agricultural labourer job. The opportunity cost of this choice is the income she foregoes by not taking the babysitting job, which is \u20b9700. - Opportunity cost is the value of the forgone alternative. - It is not the sum of the alternatives or the difference between them; it is the value of the single best alternative not chosen.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/suppose-an-agricultural-labourer-earns-\u20b9400-per-day-in-her-village-sh\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suppose an agricultural labourer earns \u20b9400 per day in her village. Sh\" \/>\n<meta property=\"og:description\" content=\"Opportunity cost is the cost of the next best alternative that is given up when a choice is made. In this scenario, the agricultural labourer has two options: earn \u20b9400 per day as an agricultural labourer or earn \u20b9700 per day as a babysitter. She chooses the agricultural labourer job. The opportunity cost of this choice is the income she foregoes by not taking the babysitting job, which is \u20b9700. - Opportunity cost is the value of the forgone alternative. - It is not the sum of the alternatives or the difference between them; it is the value of the single best alternative not chosen.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/suppose-an-agricultural-labourer-earns-\u20b9400-per-day-in-her-village-sh\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-01T03:03:02+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Suppose an agricultural labourer earns \u20b9400 per day in her village. 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The opportunity cost of this choice is the income she foregoes by not taking the babysitting job, which is \u20b9700. - Opportunity cost is the value of the forgone alternative. - It is not the sum of the alternatives or the difference between them; it is the value of the single best alternative not chosen.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/suppose-an-agricultural-labourer-earns-\u20b9400-per-day-in-her-village-sh\/","og_locale":"en_US","og_type":"article","og_title":"Suppose an agricultural labourer earns \u20b9400 per day in her village. Sh","og_description":"Opportunity cost is the cost of the next best alternative that is given up when a choice is made. In this scenario, the agricultural labourer has two options: earn \u20b9400 per day as an agricultural labourer or earn \u20b9700 per day as a babysitter. 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