What is the result of economic choices or trade-offs?
A) poverty
B) basic human greed
C) scarcity
D) private ownership of resources

Question

Quizplus · Accepted Answer

Economic choices or trade-offs result from scarcity, which means that resources are limited and choices must be made about how to allocate them. Therefore, the best choice is to understand and prioritize the most important economic goals and values, such as efficiency, equity, sustainability, and economic growth. By doing so, individuals, firms, and governments can make the most effective trade-offs to achieve these goals and minimize negative consequences.

What Is the Result of Economic Choices or Trade-Offs