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Laabri

Scarcity and Opportunity Cost

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Last updated 9 months ago
5 Nsɛmmisa
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1.

Economics is the study of how people, businesses, and governments

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2.

Scarcity forces all of us to

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3.

A possible option you didn't choose when making a decision is called a

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4.

You have $150 in your savings account. You have to choose between going to a concert that will cost you $100, or buying a pair of shoes you like that cost $75. If you choose to go to the concert, what is the opportunity cost of that decision.

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5.

Which of the following are included in the 3 Essential Economic Questions? (choose all that apply)