Because we face scarcity, every choice involves
A) money.
B) the question "what."
C) giving up something for nothing.
D) an opportunity cost.

Name: Because we face scarcity, every choice involves A) money. B) the question "what." C) giving up something for nothing. D) an opportunity cost.
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Question

Quizplus · Accepted Answer

Scarcity means that we have limited resources but unlimited wants, so every choice we make involves an opportunity cost, which is the value of the next best alternative that we give up when we make a decision.

Because We Face Scarcity, Every Choice Involves