What's opportunity cost? Provide a hypothetical situation/scenario showing an understanding of this concept.||

See explanation

Explanation:

Opportunity cost is what one forgoes when we choose a different alternative. Due to the scarcity of resources, we all have choices to make.

For example, if one is faced with a choice of either spending a certain amount of money on buying a book or going to the cinema. If the person eventually buys a book, then the opportunity cost is the cost of the movie not seen and the enjoyment that's comes with going to the cinema.

the federal government of the united states was established by the constitution. us is a presidential republic. the president is head of state, head of government and of a two party legislative and electoral system. the supreme court balances the powers of the federal and the state government. yhe executive branch is headed by the oresident. there are two chambers of congress, the senate and the house of representatives. judicial power is exercised by the judicial branch (or judiciary), comprised of the supreme court and lower federal courts. the judiciary's function is to interpret the   constitution as well as the federal laws and regulations.