For each of the following, describe the opportunity cost when you decide to do each activity.:

1. Go to the beachorstudy for an exam
2. Get a job after high schoolorgo to college
3. Leave early for schooloreat breakfast
4. Go to the moviesorcomplete portion of a group project
5. Go to a party at a friend's houseorgo home early on a school night

Based on your understanding of scarcity, please explain reflection explaining why resources are scarce using sound economic reasoning. Please use an example from your own life as part of your explanation.