In standard English usage, select the antonym that best expresses the opposite meaning of the word "extravagance", which refers to excessive and wasteful spending or use of resources.

Introduction / Context:
The word "extravagance" appears frequently in discussions about money management, budgeting, and lifestyle. It describes behaviour that goes beyond reasonable limits in spending or using resources, often in a wasteful way. Competitive exams commonly test antonyms for such words because they reveal how well candidates understand nuances of meaning, not just simple dictionary definitions. Here the task is to pick the opposite idea to extravagant and wasteful use of money, which is an essential skill when reading editorials on economics or public policy.

Given Data / Assumptions:
- The focus word is "extravagance". - The sense tested is wasteful or excessive spending or use of resources. - The learner must choose one correct antonym from four options. - Exactly one option gives the opposite, and the others are related or misleading.

Concept / Approach:
An antonym is a word that has an opposite meaning to another word. If extravagance implies too much spending, too much display, or unnecessary luxury, then its antonym should suggest careful use of money, restraint, or frugality. While some options may look related to cost or value, only one truly captures the disciplined attitude that is opposite to waste. Therefore, the strategy is to recall typical collocations like "extravagance and thrift" and then remove options that talk only about price instead of spending behaviour.

Step-by-Step Solution:
Step 1: Recall that "extravagance" describes wasteful luxury or spending more than is sensible. Step 2: Evaluate option a, "expensive". This word describes something that costs a lot, but an expensive item is not necessarily extravagant. It may still be useful or necessary. Step 3: Evaluate option b, "thrift". Thrift means the careful and economical use of money and resources, avoiding waste. This is directly opposite to the careless waste suggested by extravagance. Step 4: Evaluate option c, "cheap". Cheap means low in price or cost. Something cheap can still be bought in an extravagant way if it is unnecessary or if many cheap items are purchased without control. Step 5: Evaluate option d, "absurd". Absurd describes something that is unreasonable or foolish, but it does not specifically refer to spending patterns. Step 6: Conclude that only "thrift" clearly expresses the opposite meaning to "extravagance".

Verification / Alternative check:
A useful check is to pair words in common phrases. In discussions about personal finance, one might contrast "a life of extravagance and waste" with "a life of thrift and careful saving". These pairs naturally sound balanced and opposite. On the other hand, phrases like "extravagance versus expensive" or "extravagance versus cheap" are awkward because expensive and cheap do not represent habits or attitudes; they describe price levels. The contrast between behaviour and price proves that thrift is the correct antonym here.

Why Other Options Are Wrong:
Option a "expensive" is wrong because high cost does not directly imply wasteful behaviour; expensive items may still be necessary and wisely purchased. Option c "cheap" is wrong because a low price does not automatically mean careful or rational spending, so it is not a true opposite of extravagant habits. Option d "absurd" is wrong because it comments on logical or practical sense, not on the use of money or resources.

Common Pitfalls:
Some learners confuse price based words like expensive or cheap with behavioural words such as thrift or extravagance. Exam setters deliberately include such distractors to test whether candidates notice the difference between cost and spending attitude. Another common mistake is to focus only on emotional tone. Although absurd sounds negative, it is not the semantic opposite of extravagance. Successful test takers always analyse the underlying concept of each word, not just its emotional flavour.

Final Answer:
The correct antonym of "extravagance" in this question is thrift.