Scarcity arises from limited resources.For this reason,all economic choices involve
A)a value judgement.
B)an educated decision.
C)an opportunity cost.
D)complementary ends.
E)greed.

Question

Quizplus · Accepted Answer

Since economic choices involve scarcity, there are always trade-offs or opportunity costs. One must give up something in order to obtain something else, and this is the reason behind making choices. Therefore, option C - opportunity cost - is the best choice.

Scarcity Arises from Limited Resources