An optimal decision is one that chooses the most desirable from among all possibilities that are available.
Correct Answer:
Verified
Q15: Economics studies the logic of choices made
Q16: Millionaires do not face the problem of
Q17: Scarcity can be measured only through the
Q18: Resources are used to create goods and
Q19: Inputs in production processes are called resources.
Q21: In a properly functioning economy, money costs
Q22: Individuals face scarcity; whole societies do not.
Q23: The production possibilities frontier can show a
Q24: High opportunity costs go hand in hand
Q25: Opportunity cost cannot be measured in money
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents