Which of the following statements is false?
A)There is an opportunity cost associated with any choice made.
B)If there is a budget constraint, there will be scarcity.
C)A person without a budget constraint does not face opportunity costs.
D)Opportunity costs occur because of scarce resources.
E)Because of scarcity, choices have to be made.

Question

Quizplus · Accepted Answer

Every person, regardless of their financial situation, faces opportunity costs when making choices because all resources are scarce. Option C is incorrect because it assumes that a person without a budget constraint does not have to make choices and does not face opportunity costs.

Which of the Following Statements Is False