Katie considers the alternatives that will be lost if she decides to spend her savings on buying a car. what is the economic term for her thought process?

Opportunity Cost

Explanation:

Opportunity cost is a term used in economics to indicate the cost of something in terms of a given opportunity, that is, the cost, even social, caused by denying the so called "opportunity", as well as the benefits that could be obtained from of this renounced opportunity or, even, the highest income generated in some alternative application.

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