Some college students think that because a college degree greatly increases their earning potential there is no opportunity cost of attending college. how would an economist look at the matter?
a. there is still an opportunity cost, even if it is justified by higher future earnings.
b. the opportunity cost is much less than it would appear, assuming that earnings increase.
c. there is no opportunity cost, assuming that future earnings actually increase as expected.
d. the college students are completely correct in all respects.
e. opportunity cost is a meaningless concept in this situation.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan