Which of the following statements is false?
A)Anytime you have to decide which action to take you are facing an economic trade-off.
B)Trade-offs do not apply when the consumers purchase a product for which there is excess supply,such as a stock clearance sale.
C)Every individual,no matter how rich or poor,is faced with making trade-offs.
D)Economics is a social science that studies the trade-offs we are forced to make because of scarcity.

Question

Quizplus · Accepted Answer

Trade-offs apply in all economic situations, including situations where there is an excess supply of a product. In fact, even in such situations, consumers still have to make a trade-off between the money they will spend on the discounted product and the alternative use of that money. Therefore, statement B is false.

Which of the Following Statements Is False