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Choice

Education in university

setting up of a yoghurt icecream stall

Opportunity cost

setting up a yoghurt stall

lesser salary

fewer job opportunities in the future

continue to study in the university

giving up of passion and love for setting up a yoghurt icecream stall

lesser working experiences

Q1.

scarcity

Qualification

Interest

Income

Resoures

money

high production cost due to the increase in price of milk

equipments

milk

In high demand = Future lack likely

workers

Hard to find workers willing to work for unexperienced employer

Time