The Scarcity Principle tells us ________, and the Cost-Benefit Principle tells us ________.
A)that choices must be made; how to make good choices
B)that good choices eliminate scarcity; how to make good choices
C)how to make choices; that choices must be made
D)how to make good choices; that choices involve costs and benefits

Question

Quizplus · Accepted Answer

The Scarcity Principle tells us that people must make choices because resources are scarce and wants are unlimited. The Cost-Benefit Principle tells us that we should make choices by weighing the extra benefits of an action against its extra costs.

The Scarcity Principle Tells Us ________, and the Cost-Benefit Principle