Because of scarcity, people must make choices and choices involve tradeoffs--i.e., giving up one thing to get something else.

Name: Because of scarcity, people must make choices and choices involve tradeoffs--i.e., giving up one thing to get something else.
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Question

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Scarcity forces individuals and societies to make choices about how to allocate limited resources, leading to trade-offs where one good or service must be forgone to obtain another.

Because of Scarcity, People Must Make Choices and Choices Involve